I have the 160 GB version, and it performs as advertised.
As to reliability I have had no issues, when the bug surfaced with the 8 GB issue, Intel was quick to analyze and released a new firmware to fix the issue.
Reading Toms Best SSDs article, according to them Intel is the go-to manufacturer when it comes to reliability.
There was a post by someone with a link to a computer seller that had a table showing RMAs on different components, and Intel was the best when it came to SSDs.
Have the Intel G2, over a year, No problems.
Have a pair of Curcail m4s in laptop - No problems
Have a pair of agility IIIs (do not recommend) just replaced one with a Samsung 830.
The samsung 470 (sata II) and Samsung 830 are suppost to be very close to the intel for reliability.
Have a total of 10 SSDs - No problems from a reliability standpoint on any of them, only proble was compatability issue with the agility III
Now, the Intel 320 120GB is not going to win any speed records, but even a slow SSD is a massive upgrade over a mechanical HDD, and it would be up to you if the reliability, extra safety options and reduced price is worth the reduction in speed.
You have yet to state the intended usage of the drive, 120 GB is used up fast if you are not careful about how you have your system set up and manage installed applications and their data.
The corsair sata III line up is not impressive looking at Customer feed back @ new egg.
Know you are not buying from Newegg, But good site to get a feel of what others are saying - just take with a grain of salt. http://www.newegg.com/Product/Product.aspx?Item=N82E168...
The 120 Gig corsar (uses the SF22xx controller) fairs a little better.
Note the "real life" difference between the better SSDs is not near as much as the Syntetic benchmarks indicate.