Both versions will run your software fine (and fast).
IMO $350 for a .3Ghz speed bump is not a good use of your funds.
How much RAM is included and what would the upgrades cost?
Currently, the $350 difference is based on the following tech specs:
Mac BookPro Core i7
2.8 GHz Dual-Core Intel Core i7 Processor
4 GB 1333MHz DDR3 SDRAM
750GB 5400rpm Hard Drive; 8x DVD/CD SuperDrive
MacBook Pro Core i5
2.4 GHz Dual-Core Intel Core i5 Processor
4GB 1333MHz DDR3 SDRAM
500 GB Hard Drive, 8x DVD/CD SuperDrive
As you can see, the only difference is the Core specification and the additional 250GB SATA HD (750GB SATA HD vs 500GB SATA HD).
What do you recommend? $200 will probaboy buy me additional 4GB 1333MHz DDR3 SDRAM making that a 8GB instead of 4GB