CJ, Re: the 2800+/3000+/3200+ all have a TDP of 62 watts. Centrino/Pentium-M is at 25 watts.
The 3200+ has a second intermediate power state that dissipates 34W at 1.6GHz, which is pretty amazing that they can cherry pick parts that run this low. I think that would come close to offering a performance/power ratio close to Pentium M, but then again, for the trouble I'm inclined to just get a Pentium M.
P.S. I'm hearing that Intel will release their 802.11b/g solution later this month. That should definitely help to increase the competitiveness of the Centrino bundle.