After months of decision making, I finally decided to plunk down the 1349 for the 5205-S119. I have had this since Christmas Eve and have run it through hours of usage.
Pros:
1. CASV Screen - This is BETTER than the MVA used in the 15" screens on the Fujitsu. I was withing inches of ordering the Fujitsu N3010 a few months back but after running the directX test and witnessing severe bleeding/ghosting I held off on that purchase. A few people on Cnet have validated this as well. That said, this screen is unbelievably clear and bright. I've gone from using a Sony 21" CPD-G500 flat screen crt, to a Dell 1800 LCD so I think I am pretty aware of what it means to be picky with monitors. Text in Windows is RAZOR sharp and the screen is soo bright you might even dim it a bit during regular use. In 3d games there is no ghosting. I've played UT2k3, Final Fantasy XI and Warcraft 3 on it with not a hint of ghosting. This, along with the X-Brite's are by far the best screen on a laptop out on the market. I can't make a comparison with the N5XXX series from Fujitsu LCD's as I haven't seen them at my local Fry's yet.
2. Sound - Sure this is a laptop but for what it's worth the sound is very good. I'm using a Klipsch set on my desktop when I really want to play my music/dvd's but for playing games, etc., it's great. As a comparison, my coworker has a D800 and the Toshiba's sound stomps it.
3. Toshiba doesn't mention it (at least I didn't see it), but the laptop comes with a small remote. It's not the same one taht came witht he 5205-S705 but is about the size of a remote for a car head unit. What's cool is that it fits snug in the space saver unit and is used for the DVD controls...I think as I haven't used it yet hehe...
4. Price - For $1349 you'd be hard pressed to find a unit with these features.
5. Keyboard - Solid as a rock.
Cons -
1. The size. Yeah I know, I know...this is a desktop replacement unit blah blah. Well, it's nearly 2" in the back. It's freaken huge. I could stand the weight but the thickness kills me.
2. It's for lack of a better word: ugly. I'm more a fan of the simple, elegant look found in powerbooks and the Gateway 505X.
3. Battery life - I can run the laptop through a DVD at maximum settings with about 20% of the battery left. I definitely would have liked a Centrino chip in this.
4. Way too much plastic in the build. With the aluminum or what not found in laptops like the X1000, you think Toshiba could have used a better chassis for this. Then again, this laptop IS derived from the 5205-S705.
Now on to the caveats. I didn't know whether to list the graphics processor as a pro or a con. I want to say that for 1349, you're getting a Geforce FX5600...where else can you find that!? However, with the Office Depot deal on the Gateway 505X bringing theprice of THAT laptop down to 1399, the decision becomes VERY tough. Keep in mind that the Toshiba comes with 256 megs of ram so slapping in a second stick brings that up to...are you ready for this? 1399

I actually plan on heading to Office Depot tomorrow to play around more with the 505X. The 1600x1200 resolution, although remarkable on the Toshiba, actually hinders it in game play. For some of the more recent games, you are NOT going to be able to run at that resolution. I'm sure you realize this but the graphics looks like ASS on an lcd when you're not running it at native resolution. I've already had a chance to play with the Gateway at the country store before but that was before i purchased the Toshiba. If I can tolerate losing the CASV screen, I think I will return this laptop and get the Gateway as it offers 99% of what I want (the 1% being a CASV screen).
Kevin