I'll drop my .02 worth, go with the Dell. There is nothing wrong with the Toshiba laptop, I have worked on a few, and some of the best Compaq Laptops were actually built by Toshiba. That being said and since the tech specs are the same you need to take a look at the support and warranty.
As was already said the complete care warranty is the best in the industry right now, well worth every dime it will cost you. You can also just get a one or two year plan now, and then about 6 months before it expires, they will give you the option of extending it. I have yet to have a problem with any warranty service from them. If you are handy with computers they will even just next day you the part. This works great for desktops, but if you have never had a laptop apart, I don't recommend jumping in for a motherboard swap!
One other thing, if the price you got for the 1505 was online, give them a call, the operator can usually beat the web price by $25-50. Don't forget to look for any discounts you may get as well. Discounts to think about; student/teacher, credit union, employee (i.e. your company uses dell computers, most offer employee purchase discounts) these can run from 3-12% as well.