Not really.... In my experience with them, their (full)boot and login times are terrible, and over-all performance sucks. It's just fine if you are looking for a cheaper lappy, and are going to use it for basic groupware/internet/office apps.
In all honesty, adding system memory would probably help the cleron M's quite a bit- though I haven't tried it.
Remember... it's the cache on the Pentium M platform that truly makes for the performance of the CPU. I would recommend buying a full fledged pentium M at a slower clock rate and similar value before buying a higher clocked pentium M celeron.