Basically the Turion is cheaper and has less performance.(per mhz and overall since it doesn't clock as high)
P-M also has a much better selection of laptops, Turion laptops are pretty much limited to low end and special edition(like Acer Ferrari), good competition to the Celeron Ms though, I think they have about the same price, better performance, and better battery life since the Celerons lack power management.