no issues if you add ram or faster HD at all
I have a MBP 2.4ghz 4gb 7200rpm 160gb HD, the battery life is longer than before when you add memory, due the simple fact that osx caches processes in RAM, instead of accessing the disk avery time, so more memory, means leas disk usage, then more battery life.
In terms of noise, I can't compare, but I can barely listen when the hd is used, I can feel more the lisght vibrations then the actual noise.
in terms of heath, it is quite hot, probabily more then the 5400rpm, but this is due the faster speed, and there is no fix for it, in any case the performace are about 20% better for the 7200rpm, so my advise is GO FOR MORE RAM and FASTER HD, we live only once!!
Ale