I saw that one on Toshiba's page. It looks very similar to the A4, which I am saving up for, except the A4 has the wide-aspect 15.4" screen (and a few other bells & whistles).
What really matters is if this computer will suit YOUR needs. Also, the tecra's tend to be toshibas line of higher end notebooks and seem to be solid and very reliable.
I haven't really seen much about this model (apart fom the spec sheet) since most people looking at the tecras in this category tend to go after the S2 for the customization options including video cards that are not integrated and use their own memory, faster hard drives, higher resolution LCD display options.
Apart from that the baseline S2 has gigiabit network card, 2 PCMCIA slots (the A3 has 1) and the media card reader. according to the spec sheet they are both very similar in size, but the A3 seems to get 1/2 hour better battery life
In the end it is all really going to come down to what do you want the computer for. If you're not going to be doing any graphically intesive stuff (and don't need the graphics options), if you don't need the additional pcmcia (probably not) or media slot (you could aways get usb reader) then It'll probably do you fine.
From the specs I think this is one nice puter, but like I said, it's realy going to depend on what you want it for, and how much they want for it. BTW, where did you see it and how much does it cost?