In today's turbulent economic times, when you're watching every penny, buying a new computer may seem an extravagance. But if your PC dies or someone on your gift list really needs one, making a purchase is difficult to avoid. Lucky for you that both the holiday-season discounts and the inexorable advance of technology are generating a wide selection of great PC bargains. Although it may not be the right time to run out and buy a $3,000-plus dream PC, you can get a lot of computer for less than you'd expect.

The past year has been notable for the rapid emergence of netbooks, or ultramobile PCs (UMPCs). These pint-size laptops lack the raw horsepower of larger ultraportables, but they more than make up for it in portability, energy efficiency, and very reasonable prices. Many Windows netbooks are now available for less than $500, including two of our favorites, the Editors' Choice MSI Wind and the Lenovo IdeaPad S10. They each have spacious (for UMPCs) 10-inch screens, Intel Atom processors, and 160GB hard drives. Netbooks are primarily designed to let you check e-mail, surf the Web, and do Office-type tasks, but they're becoming more versatile as they increase in power.

Apple has just refreshed its MacBook line; among the changes, it has reclad the 13-inch model in aluminum. But the older, white MacBook 13-inch (Penryn) is still available on Apple's site, and the folks from Cupertino have slashed $300 off its price. If you ever wanted to own a MacBook but felt priced out, now's your chance.

Lenovo, new to the consumer desktop scene, launched the IdeaCentre K210, which brings a rare touch of design sense to the value PC space. Its chromelike highlights, two-tone color scheme, ample feature set and upgrade potential, and decent performance make it our sub-$500 champ.

For slightly more than you'd pay for your average budget PC, you can get the ZT Affinity 7221Xa, whose triple-core processor helped its performance on tests such as Windows Media Encoder. Its DX10-compatible integrated graphics allow it to load the latest 3D games, although it's still far too slow to play the likes of Crysis.

Despite the reputation of gaming rigs as costing gigabucks, bargains can still be found, particularly among low-end "starter" systems. The Cyberpower Gamer Ultra SLI Basic gives you dual nVidia GeForce 8600 GT graphics cards arranged in (you guessed it) SLI configuration. It's best for playing somewhat older, but still good, games like Prey, Company of Heroes, and Half Life 2, and can be had for just under $700.

The Dell Inspiron 518 is a solid mainstream/multimedia desktop that provides a quad-core processor, a mid-level discrete graphics card, plenty of expansion room, and no annoying bloatware.

Considering the national state of economic unrest, September's retail sales' posting the biggest decline in two years, and the forecasts of a dismal holiday shopping season, it's no wonder PC vendors and retailers may be slashing prices as never before. With these facts in mind, there's no better time to buy a PC. It's one investment you're not likely to end up kicking yourself for making. Here are our latest picks.

Featured in this Roundup

Apple MacBook 13-inch (Penryn) ($1,299 direct, originally; sale price $999)
Although now upstaged by its aluminum counterpart, this beauty offers Apple goodness, a fast processor, and good battery life, now for just $699.

Cyberpower Gamer Ultra SLI Basic ($699 direct)
The Cyberpower Gamer Ultra SLI Basic is a cheap gaming-oriented system with dual graphics cards. While the sub-$700 system performs reasonably well at older games, it is still a little underpowered when attempting to play today's high-end titles.

Dell Inspiron 518 ($749 direct)
The Dell Inspiron 518 is sleek, midprice, and equipped with a quad-core processor. Just don't expect to upgrade it too extensively.

Lenovo IdeaPad S10 ($469 direct)
The S10 has all the essentials to make a solid netbook, including a 10-inch screen, an Atom processor, and a 160GB hard drive.

Lenovo IdeaCentre K210 ($469 direct)
The Lenovo IdeaCentre K210 has a cool, consumer-friendly design, solid performance, expandability, and top-notch features that make it one sweet deal.

MSI Wind ($480 street)
Out of all the UMPCs available in the market, the MSI Wind is the best deal.

ZT Affinity 7221Xa ($599.99 list)
The 7221Xa is a reasonably priced system that's ahead of its peers and offers a little extra oomph.