I did this, and the performance is fantastic. (Original 13" unibody Macbook with RAM upgraded to 6GB.) Everything happens instantly. I had journalling off, because it increases disk writes by 12%, but OS X compensates by cranking up its RAM cache. Keep journalling on, as it helps boot-up and shut-down happen quickly and things just seem to run faster without the system managing the really large RAM cache to disk. (Another factor: The nasty bug in XCode 3.1 requiring you to reboot your machine to unfreeze the simulator. This makes fast reboots a big win for me. Otherwise, I'd use sleep and only reboot occasionally.)
For increased battery life on the plane, I have a Tekkeon myPower All, which I also sometimes use to power a mobile 4G hotspot. You can find a $14 Magsafe cord on eBay, and solder it to a male Adaptaplug from Radioshack to make yourself an adapter.
EDIT: If you have an older Core Duo plastic Macbook capable of supporting more than 4GB of RAM, then I'd recommend slapping a RealSSD into it. You'll have something lighter than a 13" aluminum with great performance.