I'm not sure. I think the larger drive would probably suit me better. Actually it depends on whether or not it's my only computer. I know, this will probably shock you but there are people in the world who only have one at a time. :-)
If I still had a desktop to store my photos, etc. then I would go for the faster drive. But if I didn't, I'd want more space.
If there is no CD drive, how does one load software onto it? And how many USB ports are there?