I used a 500 GB XT. The 750 GB variant and the versions that came after were said to be even faster.
The XT was much better than the stock 5400 RPM drive. That's a given, though; unless there are major differences in the platter densities, any 7200 RPM drive should run circules around a 5400 RPM drive. There was a noticeable speed-up in the operations of programs that I used regularly.
I have since upgraded to a 500 GB Samsung 840 SSD. While the SSD is faster, I was both surprised and a bit disappointed that the 840 didn't feel that much faster for my day-to-day activities.
If I had to make a hard drive upgrade for my system drive today I would go with one of Seagate's SSHDs (what the Momentus XT line has been rebranded as). I'm happy with the Samsung 840 and appreciate the speed boosts over the Momentus XT, but the difference is not as great as I was expecting, particularly considering the difference in cost. The difference in costs will narrow with time, but for now the SSHDs are absolutely the best value for storage capacity and performance. Don't expect everything to open instantly with the SSHD, but then again, don't expect everything to open instantly with a SSD, either.