SATA 300 is another one of those 'ATA133 farce' things. Really, each SATA channel is allowed a maximum throughput of 150MB/s in version 1, and 300MB/s in version 2. I don't see how a single drive is going to be able to take advantage of 300MB/s. At least with U320, it is shared between as many as 14 devices, which makes sense to have such a high avaliable bandwidth.
About the only useful application of SATA300 I can think of, would be ESATA (external SATA) that some vendors are beginning to push. External storage devices or flash memory systems may be able to better use this bandwidth.