I got this base station with my new 17" powerbook and I can say for certain it is well worth the money. I also have the original Airport base station that I bought when my son was born (so I can compare). Now, the near five-fold increase in bandwidth will not effect Web surfing (unless you REALLY have a nice internet connection). But it very dramatically will increase the speed of transferring files between computers. When I got the new powerbook I moved all the data from my old laptop to the new. I hooked the old one up by ethernet and just kept the new wireless. Files were transferred at a great clip-- WAY faster than if I kept them both using the old base station. And this increase was in the mixed bandwidth mode (compatible with computers that can only use 802.11b).
As opposed to another review for the other Airport Extreme model, I see no decreased range at all-- but no real increase either. Adding the optional Antenna would presumably make it even more than the old base stations, but I have not done this. However, the speed is so much better that even bad reception does not adversely affect websurfing or file downloads. I have had mixed experience with other Wi-Fi systems (LinkSys, for instance).
As an important addition, the USB port to attach a printer or scanner is great. That way you need not buy a print server to share a printer and have the computers all be wireless at the same time.