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One thing to consider is you will likely see a negligible difference in perform between a 5400rpm HDD and a 7200rpm for the added cost. Not to mention the added heat that the 7200rpm might generate could potentially overheat your ps3. I think people recommended 5400rpm for that reason to be on the safe side heat wise although the article below debunks the heat and noise with a good ps3 sound dampening design.

Here's a performance look between the two they tested:
http://www.gamepro.com/sony/ps3/games/features/138288.shtml