Thanks for all the advice. I've spent a couple of days scouring the forums and Googling Vista so much so I reckon I'm now suffering from Microsoft blindness!
Results are in....
Dell won't ship my new PC with XP Pro so I've gone for Vista Ultimate SP1 64Bit. The PC is pretty well stacked with the new Intel i7 (2.66Ghz, 8MB cache, 4.8GT/sec) and 8192MB 1067Mhz DDR3 Tri Channel memory and 750GB Serial ATA (7200RPM) hard drive plus a bundle of other goodies. I've been advised that Vista Ultimate runs 'sweet as a nut' on this config.
Awaiting delivery, will let you know how it performs when it arrives.
Thanks everyone