Well Im still not a fan of Presshots, but a buddy of mine just put a 3.4E in his IC7-G and it seems to run the games a bit smoother than his 3.2C. It helps with certain apps to have a larger cache so if your buddy wont overclock I would go with the E. Even if he decides to push the chip higher the Prescott seem to scale fairly well with the added boost in FSB.
I'd recommend the "E" for all the reasons mentioned above. Also, taking into consideration that he does not overclock, that eliminates heat as being something he'd be concerned about. Otherwise, he would have to invest more money into a decent HSF.