Serpent - apart from the technical discussion of how much effect the strap has on performance (which I can't even begin to comment on), the reason I found the 4500 interesting was precisely because it could be used with 'junk' RAM and motherboards.
RAM prices for decent DDR2-800 have fallen really, really far, and reasonable (~$100) P35 motherboards are out there that can hit high FSB speeds, so I don't think the 4500 is nearly as interesting right now as it could have been a while back.
Not long ago, however, good OC RAM was very expensive and so were motherboards that could hit high FSB speeds. Under those conditions, the e4500 would have been a OC'ing dream, methinks.
Lopri - I've considered the 2140 very strongly; I'd be more than happy with 2.6GHz for $75. If it didn't involve a motherboard and memory switch, I'd have already ordered it.
Cheers.