Intel artificially capped the ability for higher RAM Speeds on non Z-490 motherboards for their new 10th Gen CPU´s, forcing you to spend way more if you wanna have the advantage of fast RAM. Also if you ever wanna do anything besides gaming, AMD is the way to go, they crush Intel in nearly every application that isn´t gaming.
I would wait for for the release of Zen3 from AMD. Yes, AMD was way behind for long, but Ryzen was the ultimate comeback. I used Intel for a long time but with Ryzen 3000 i switched to AMD.
I would go AMD R7 4700 (assuming they keep the naming they had with the current generation), 32GB of RAM (Ram is supercheap right now, don´t get the GSkill Aegis tough), B550 Motherboard and propably a NV RTX 3070 GPU. SSD is a must these days and at least 1TB of size, M2 sounds nice, but doesn´t give you any advantage in gaming. Normal Sata SSD is good enough for that. PSU is hard to to tell right now, depends on how powerhungry the new GPU´s will actually be. Seems like Nvida is a bit bruteforcing with their new generation.
I am assuming the 1500$ are without monitor here.
All considering that the new releases keep their promises. Definitly wait until AMD and Nvidia are benchmarked. CPU wise i think AMD will crush Intel, on the GPU side i don´t think they can reach Nvidia. But we will need to wait to be sure.
Definitly don´t buy before all the new things are released and benchmarked. AMD CPU´s will come in October propably there is a keynote at the 8th of October and GPU´s will come in early November i guess, they have a presentation at the 28th of October. The NV RTX 3070 is available at the 17th September.