Seagate has definitely improved the desktop performance of the Barracuda line (the 7200.8s and .9s were mediocre at best), but the ADFD series Raptors have also taken significant steps forward during the same time frame.
On the desktop, there isn't any getting around that the ADFD Raptors deliver the best combination of seek performance, raw transfer rates, and buffer strategy that money can buy. The 7200.10s come close on transfer performance, and the buffer strategy is getting better, but they still fall far short of the Raptors on seek performance.
USe the Raptor as your boot/programs drive, then have stuff that slowly but steadily accesses the disk (BitTorrent/downloads, music playback, movies, etc) on the 320GB Seagate unit.