Regarding performance:
I had both the 13" MBA with the Core i5 1.7 GHz and the Core i7 1.8 GHz and decided to stick with the Core i7 1.8 GHz. For day-to-day apps (i.e. Mail, iCal, Numbers, Pages) you can expect slightly faster performance, such as apps opening just a tad quicker or web pages and tabs loading a little faster. If it was just these things, I'd say you'd be fine with the Core i5 as the differences are very small. Where you'll find the biggest performance gains are with Aperture or other more CPU intensive tasks. I find when encoding/converting movies (50-400 MB), the Core i7 is able to handle more files faster and in a shorter amount of time (differences of 35 seconds to 3.5 minutes depending on the file size)
Regarding heat and battery life:
theSeb has done an extensive post regarding heat with the Core i7 and I would definitely recommend reading that over. I'd just like to add that my laptop's performance has been similar to his and the heat is essentially a non-issue. The only times my fans have kicked in were when I've encoded multiple videos simultaneously. When I converted 9 videos to an iOS compatible format, the laptop did become warm (not hot) and the fans kicked up to about 7500 RPM. Once the encoding was completed, the fans and temperature quickly went down. Aside from these times, my Core i7 runs cool and silent. As far as battery life, I seem to be getting the advertised 7 hours; however, I tend to just plug and unplug as I need so I can't really give you a hard benchmark.
Is it worth the investment?
Again, if it's just day-to-day stuff or you don't do CPU intensive tasks that often, I'd say you'd be fine with the Core i5. If you'd like a little more power for Aperture or other apps, the Core i7 will save you some time. My only hesitation for recommending the Core i5 is that you said you plan to use it for 2 years. At $100, it's not too much extra (relative to the total price of the laptop) to ensure yourself a little power in the future. If you're hesitation about the i7 is because of heat rather than whether or not you need the performance, all I have to say is that my i7 ran the same as the i5. Basically with the i7, you have a computer that runs just as cool (or hot) as the i5, with the extra performance when you need it.
I've attached two screenshots. One is of mission control with these apps running: nvALT, Mail, Casino Royale HD, Excel, Safari with 3 tabs, iCal, and a Finder window. The other is the iStats with those apps running.
If you're wondering, I have the 2011 13" MBA Core i7 with Samsung SSD and display. Hope this helps.