not a P4. The Toshiba is going to get better battery life but the zv6130 has a more powerful and 64-bit capable CPU and much better video. It's also heavy.
The Athlon 64 3200+ runs at 2GHz. The 3200+ is comparable to a 3.2GHz (3200MHz) P4 since the P4 is an inefficient architecture that was rigged to fool people into thinking it's faster than it is if they only look at clockspeed. The Pentium M and Athlon 64 (and AMD Turion) are comparable at the same clockspeed (the Pentium M is basically a minor update of the Pentium 3, the last good desktop CPU Intel ever made and the last Intel CPU I ever bought).
I'd take a look at some AMD Turion (low-power Athlon 64) notebooks too since they're more directly comparable to the Pentium M's (except the P-M's are 32-bit-only so forget running 64-bit Windows Vista next year). See the Acer Travelmate 4400 (and Ferrari 4000 if you have the cash) and these guys:
Been at all the usual places looking for best bang for my buck to replace my desktop and do internet, some cool gaming, home office stuff and media. Found for about $1400 the Toshiba Satellite M45-S3551 (1GB pc2700 ddr sdram, 100gb hard dr, pentium m 1.86ghz, 2mb L2, 533mhz fsb, 802.11 b/g wireless lan) which I like but am concerned about the 1.8ghz when compared to the HP ZV6130 which has a pentium 4 with double the ghz speed but only 512MB ram and also has "dedicated video memory". WHICH IS A BETTER LONG LASTING MACHINE?