Hey bud, I'm in the same boat - I wanna upgrade my MBP 2.2 to the new ones (15 inches) but I don't know if the 9400M will do.
I myself sometimes work with Final Cut Express, Photoshop, and After Effects now. I would like to continue to do so, even if it's only 3-4 times a year; I would assume a dedicated GPU would be ideal.
However, that entry level 15" price is amazing. Ultimately, I think I might wait and pony up some cash and go for the $2000 one. If I'm going to get a MacBook "Pro" I might as well get something that will last.