Alright chucked one of them Momentus XT drives in yesterday - whole thing is much faster, although some of that will be down to the old drive being almost completely full.
2 "bounces" to start Safari, same for iTunes. Lightroom finally loads in less than a minute! WIll still take some time to optimise though, as just went through an entire Bootcamp Vista load and then upgrade to 7 so I suspect the flash drive is thinking "weird, this dude uses odd Windows install files HEAPS"
And man, for noobs like me, the ability to just format a new drive and then one-click install/restore back to an identical build from the latest Time Machine backup is pretty sweet. Would have had NFI otherwise