From what I have gathered about the speed of the hard drive, it shouldn't have an overly significant effect on the battery life. For laptops, a higher speed almost always outweighs the decrease in battery life, with a drop of less than 10% of the battery life. The effect on a digital audio player might be a bit more, since the hard drive is more likely to be in greater use, but I am not really sure how much of an effect can be expected; it's probably dependent on the power management of the disk. Still, I don't know if the faster RPM will really have any perceptible effect on the digital audio player, but that is definitely a consideration to bear in mind.
Edit:
This might be of relevance (Message 5).