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The price is notable because the 13-inch MacBook Pro with similar specifications costs $1,199. The MacBook seems like a really good deal, but the Pro does bring a lot of goodies for the extra 200 bucks: 4GBs of memory instead of 2GB, a FireWire port, a memory card reader, an audio in jack and the unibody aluminum enclosure.
However, the really interesting bit about the new MacBook is Apple's promise of a 10-hour battery life -- the same as the Pro. So if long, uninterrupted, battery-powered sessions on your laptop are a top priority, the little guy no longer takes the back seat to its aluminum brother.
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