NCQ only helps with workloads that accumulate a queue of requests from the harddrive - typically several applications hitting the disk all at once, like a multi-tasking workstation or a network server. In fact, for workloads that don't have this chararcteristic, NCQ actually can harm their performance. So an awful lot depends upon how you will use the drive and the types of workloads you generate.
Other than putting NCQ into the formal spec, SATA II is really just future-proofing : it offers little if any benenfit over SATA on current drives.
And lastly, the HDTVman was spot on in comparing a Raptor and a slightly slower, but more dense 7200 rpm drive. The Raptor will "feel" more responsive, but the higher throughput of the denser 7200 can bring a few good 7200s close to the Raptor in time workload (i.e., benchmark) tests and actual use. And those 7200s are MUCH cheaper in terms of $/Gigabytes than a Raptor.
Future Shock