According to a review by a norwegian web site it's an order of magnitude quieter than the 7200.7, which says a _lot_.
Currently the 200GB model is dirt cheap around here, but the 250GB model comes at a 50% price premium. According to some test results I've seen on German mesageboards the 200GB models are utilising 100MB platters and have a max STR of 60-something MB/s, while the 250GB models with 125GB platters deliver ~70MB/s.
With the horrible seek times currently delivered by the newest models from Seagate and Maxtor, the P120 seems to at least not degrade as much from the P80 models as well.
BTW, whats up with the StorageReviw crew? One post in the forum every other mont doesn't exactly convey much enthusiasm about the site.... The reviews and articles are excellent, but some progress to the community would be nice.