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It is faster. XBench results show this but general usage is much more impressive. Apps launch faster, networking (especially to Windows Shares) seems faster, screen redraws via Quartz are faster. The whole OS just seems snappier.
 
Re: Is Panther supposed to be faster than jaguar?

New 17" PowerBook 1.33 MHZ, 512 Ram, Superdrive.

not being picky, (well, i am) but thats a pretty slow powerbook! Are you sure you don't mean 1.33Ghz?
 
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