Hi,
There are a lot of topics about this already. But to sum it up: for daily use (i.e. mail, browsing, IM, music, photos, videos, etc.) the C2D will do just fine. Having a QC won't change the experience for these things that much, and the difference between the i5 and i7 is basically not noticeable.
You'll only see a difference when you're working with heavier applications, work with HD videos or really high resolution photos/canvasses in Photoshop, do heavy encoding work, etc. In that case you will definitely notice the QC power. But between the two it'll come down to doing something in e.g. 50 minutes with the i7 in stead of 60 minutes with the i5.
Graphs are nice, but in most cases you really won't notice the extra power. If you can afford it, want the best available at this time and maybe gain some extra speed in the future when and if Hyper-threading actually starts making a difference: go for the i7.
The i5 is still the best bang for your buck though. Despite what graphs like these might suggest, it will handle everything you throw at just as good as the i7. It'll come down to those few more minutes with heavier tasks. All the other stuff you're doing the rest of the time: no (noticeable) difference. And you can use the $200 or so difference for more RAM or a bigger HD.
Edit: another thing to consider. Let's jump ahead a time a few years and everything is bigger, better and heavier. By the time you start to notice that the i5 just isn't cutting it anymore, the i7 will have the same problems. At that time having the i7 in stead of the i5 really won't make that much of a difference, and you'll be looking at whatever is next anyways.