Just my 2 cents having owned a MBP 2.2ghz, a 2.4ghz MacBook (white) and now a 2.4ghz MacBook Al...
This machine is absolutely the most amazingly engineered piece of gear I've ever had the pleasure to put my hands on. No flex, feels amazingly solid, like one chunk of metal. The lid is a precision fit to the body unlike EVERY Mac laptop I've ever owned... my Pro had a noticeable difference in clearance from one edge to the other...
Now I did go for the 2.4 and it's screaming fast, absolutely faster than my old 2.2ghz MBP. I have a 320gb 7200rpm drive on the way that should boost that speed even more...
Anyway, hope that helps. Go to the store if you can and just hold one in your hands and then pick up a 17" MBP (or a 15" old style if they have one)... the difference is amazing.
Now, that said if you want to try to get as much bang for your buck, that MBP is a great deal at that price. Naturally the 15" screen is very nice, and still LED technology, gorgeous display. If you could possibly swing the 2.4ghz AL MB, I would say it at least equals if not outperforms the previous 2.4ghz MBP.
Good luck!