Had a TDi 150 tail me on the motorway yesterday up a hill. I dropped to 3rd and he was keeping up, but hit the flat and I pulled away very considerably.
Id say that for overtaking, the instant push that the torque gives at the lower revs makes it very quick for the first few seconds - enough to really surprise a 172/16v etc. But beyond that initial pull, theres not the power to match. So say in a race from 2nd at 20mph, a TDi 150 will keep up until about 40 - then the petrol hot hatch will come on cam and leave it.
My mate and I went to pick up his new Saab 9-3 TD on Saturday and we both gave it some in our cars on the way home. Provided it could get the grip, the Saab TD was as quick as my moded 16v for those first few seconds out of the roundabouts. But after that, it got well and truly mullered.
Id definitely buy a TD as a quick and relaxed day-to-day motor - but I still prefer the high-rev thrills of a petrol unit. I expect well see more diesel "hot hatches" (mainly from the VW group) - but a turbo petrol unit will probably always be quicker in the same state of tune.