IMPORTANT EDIT: The Toshiba also has a really crappy processor. 1.6ghz
Clock speed for a laptop really isn't that important. My M11x with a 1.3 GHz (OC'd to 1.7 GHz) can run everything on my STEAM games list on max settings.
I've heard the 1.06 GHz i7 for the M11x is even faster than the Core 2 Duo at 1.7 GHz.
However, the ASUS one does appear to have a better GPU and more RAM, so go with that. Or build a godly desktop PC because you won't be able to take that anywhere without it dying within an hour and being too bulky.