Well, having just read the thread about possible instability when using mobiles in MP, I'd be a little worried if I suggested using them. If it proves to be incorrect, then by all means, but until then, I'd keep an eye out.
Anyway, my personal opinion is that when it comes down to a question between Xeons and Athlons, you save some money on XPs but end up with a faster system in certain key things with Xeons. So what is it that you do with your machine? If you're just looking to mess around, obviously XPs are the best answer. Media encoding, outside of MP3s, is best done on Xeons, as is content creation. If you've got the money, a very high end Opteron will beat a Xeon in most things or at least give it a run for its money.
Keep in mind that an overclock is never guaranteed. I see people with 2.4GHz Xeons at about 3.4GHz or more and think that sounds absolutely fantastic, and I see people with XPs at up to 2.6GHz, which also sounds fantastic. But I think that while those speeds are certainly obtainable, they cost more to ensure good parts and adequate cooling and if you don't get that speed, how will you feel? Is a dual mobile 2400 good enough if you can't get it a hair past stock? What if you're 533 Xeons can't make the jump to 800MHz FSB?
In the end, assuming that overclocking is in your future and will go smoothly, I think that for all around general usage, you might find an XP system fits the bill nicely, and your wallet will like you a lot more. If you're thinking of a more specific application, get back to us so we can consider it.
Z