AMD and Intel are both companies that make processors from my understanding. Which is better for gaming is too broad a question as it also depends on your video card amongst other things (to be honest). Motherboards only work with certain processors and only fit certain sockets. You would want to match your motherboard with your processor (Intel or AMD) vs the socket size (LGA775 is quite popular for Intel, and AM2 is popular for AMD right now).
I'm no expert but I believe that's fairly accurate.
Yep, that's pretty accurate!
Right now, Intel has the speed market for fast processors (for the average consumer). They make the extreme core 2 duo, which is top dog right now, which also makes it more expensive then the AMD dual core models (faster=more money!). It'll change and AMD will eventually make a faster processor.
Your computer won't work if it's an Intel board and an AMD cpu, or vice versa. Then there's different sockets and whatnot....lots of fun to figure out, but you can always post any specific computer related questions here on the forums and we'll be more than happy to help!
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