Ewwww.... $200 for only 37GB, and you also need to buy a SCSI controller...
I'd very much prefer to spend $300 on a 300GB Raptor. The numbers (as in, access times) are very close, but the size difference is just huge.
Edit: just in case you've never seen this theory before: a typical hard disk read or write goes like this:
1. wait for the heads to move to the right track - this is about the same for all modern drives, it doesn't depend on the rotation speed
2. wait for the track to rotate to the right sector - the cheetah will do great here with its high rotation speed
3. read/write the sector(s). If the disk is not very fragmented, this repeats for lots of adjacent sectors, and the speed depends mostly on data density. The raptor with its high density and PMR will do great here.
Which one wins depends a lot on how big the files are and how much fragmentation is there and on the kind of operation. For example in a random read/write of small files I'd bet on the Cheetah, but when dealing with a few large video files I'd bet on the V-Raptor.
Edit: to be fair to Seagate, that Cheetah is one of the most reliable drives ever. We don't really know how reliable the new Raptor will be.