In my case it is but then I do plan on doing some intensive things with my laptop. Centrino is a combination of the processor, chipset and wireless connection that I think relates to battery life and other performance factors.

Looking at it seems that the main differences is that Pentium M has double the cache and higher top speeds. If price is a concern then get the Celeron whereas I think the Pentium M is a step up in a sense without getting into the Core chipsets.