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This is a good result, but the CCFL backlight display means this M1340 suffers in comparison to one with an LED display. HP's Pavilion dv3 offers even better battey life, making it a better option if you're not too fussed about application performance.
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The difference is greater in the low-intensity Reader test, however the Dell's are closer to the HP in the test, where their more up-to-date processors benefit from a more efficient low-power state.
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Two hours at full brightness isn't too bad and reducing brightness should mean something closer to two and a half hours of playback - just about enough for most films or a few TV episodes.