I'm typing this from a Core Duo MacBook Pro with Snow Leopard installed (today's retail copy; I don't have a sufficient ADC account to have tried it in advance).
Important things are noticeably faster, irrespective of any other factor. The most obvious one is the slight delay that Leopard always had when opening a pull-down menu from the menubar. With the exception of the 'Help' menu, they're all suddenly instant.
More relevantly, I've gained an unbelievable 11.5gb (in old fashioned kilo = 1024 terms) of free disk space, which I really can't explain. This was originally a 10.4 machine, but I opted for a clean install of 10.5. I don't remember being fussy about what I installed and I'm now running without Rosetta, but nevertheless that makes a phenomenal difference on my 100gb hard drive.
At this stage mds is occupying about 45% of my CPU constantly, and the first Time Machine backup seems to be grabbing almost 11gb of stuff, so that'll be going for a while. But everything remains nice and responsive.
EDIT: and this was an in-place upgrade, by the way, not a wipe and install.