Wait for Merom!
Merom will be Macbooks at same time as MBP (that rumour has already been around). If you don't believe the rumour, you just need to remember that everyone else (Dell, Sony, HP etc) have already released small laptops (12" to 14") with Merom today so to keep all its nice Macbook sales, Apple will have to add Merom to the Macbook asap to keep its sales.
Makes sense, don't know why everyone has been whining that the Macbook wouldn't get Merom for some time. Obviously Apple believed that the Macbook was different enough from the MBP when they originally brought out the Core Duo Macbook (which was the same processor as the MBP). Like everyone has been pointing out, Apple must have the latest tech now they are in the Intel arena. Unless they add a smaller MBP then Macbooks aren't just Apple's cheapest notebook, they are also Apple's smallest notebook, and so Apple needs the latest tech in them.
Wait for MB Merom - a few weeks and you will have a better CPU with better resale value.
Here is a current list of what laptops have been launched with Merom:
http://www.notebookreview.com/default.asp?newsID=3135&article=Core+2+Duo+Notebooks