I bought the i7 since the CPU performance increase was higher, percentage wise, than the increased cost*. I don't have an i5 to test battery life against but I've read on Anandtech that you should expect about a < 10% hit in battery life on the i7. Again, though, the performance increase is proportionally higher than the ~10% loss in batt life**.
So for me, it was a no brainer. I start medical school in the fall and I plan on having this machine until I start residency.
* http://www.anandtech.com/show/3659/apples-15inch-core-i5-macbook-pro-the-one-to-get/9
**http://www.anandtech.com/show/3669/...o-more-battery-life-tests-display-evaluated/2
So for me, it was a no brainer. I start medical school in the fall and I plan on having this machine until I start residency.
* http://www.anandtech.com/show/3659/apples-15inch-core-i5-macbook-pro-the-one-to-get/9
**http://www.anandtech.com/show/3669/...o-more-battery-life-tests-display-evaluated/2