speed difference between 1Ghz PB and latest PBs?

don't think there was a 1.2 PB

But i can tell the difference between my old powerbook and the new one. and its more than just the Mhz

When I upgraded from 1 GHZ G4 ibook, to 1.5 GHZ G4 Powerbook it was a substantial difference. Remember that the video cards are also slightly better than they were before, so that also helps overall performance.

I have a TiBook 1Ghz and lil bro has AlBook 1.5Ghz.
In regular use, very little difference.
In UT2004, 10 Frame difference. Also consider that the TiBook has a slower superdrive.

I have a TiBook 15" 1ghz and a relatively new PB 12" 1.5ghz. I don't see much of a performance difference, though that's no doubt partly due to the TiBook have 1gig of RAM while the PB has only 512mb (for now). You might want to think about a TiBook with a gig of ram; I think you'll find it's competitive with the newer PB's.

Also, would an iBook be within your budget? An iBook 14" with maybe a RAM upgrade would probably run about $1,400 or so.