Life and Power consumption comparison of 5400 and 7200 RPM hard disk drive?

Guys,

I am going to buy new hard disk for my laptop, currently it has 320GB 5400 rpm disk and I am looking to upgrade to 1 TB but I have few question in mind if I opt for 1 TB 7200 rpm disk instead of 5400 rpm..
Is it that life of 5400 rpm disk will be more than 7200 rpm disk because it is spinning at lower speed so lesser wear and tear?

Also, that also means that it will consume less power as there are lesser spinning ?

I have searched around but there is no clear guide or answer to my question.