P4M vs centrino?

Centrino isn't a CPU, it's a collection of technolgies marketed together. The CPUs that are "centrinos" are Pentium Ms.
 
from wikipedia
Centrino, a platform-marketing initiative from Intel, covers a particular combination of CPU, mainboard chipset and wireless network interface in the design of a laptop personal computer. Intel claimed that systems equipped with these technologies should deliver better performance, longer battery life and broad wireless network interoperability.

To qualify for a Centrino label, vendors must use all three Intel qualified parts for laptop, otherwise using only the processor and chipset will carry the Intel Core label instead.
 
The previous two people are right.

However, I know you mean P4M vs PM. The answer is the Pentium M is much faster, clock for clock. Cooler too. The P4M's are a poor choice for a laptop.
 
And the PM consumes less power than the P4M, at least that is what I was told. At this point I'd get a merom though (mobile C2D)
 
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