Moni,
Centrino processors are new and based on a different architecture (Pentium-M) than the one used in Intel's other mobile processors, like Intel Mobile Pentium 4. I have not personally used it. I used 2 laptops, still have one, and both had P4. The one I have is a dell inspiration. And I do think that architectire needs some performance boost.
Intel said the 1.6GHz Centrino offers a 13-15% improvement in performance over the 2.4GHz Intel Mobile Pentium 4! If it is true, then you should definitely go for it. Specially at the price you are going to get it. Centrino technology seems to come to the market first, around march 2003 and got steady flow of favorable reviews. But as you said, make sure to get a good graphics card and gigs of ram too!
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