The Green series drives run at 5400rpm (not 5200) ... but Yes, a 7200 rpm drive will be substantially faster. You don't buy WD Green drives for performance -- you buy them for low power consumption, cool operation, and an excellent cost/gigabyte. The Caviar Black series has far better performance ... not only because of the higher RPM, but also because they have dual I/O processors which help them operate more efficiently in managing their cache and optimizing seek times.
The Green series drives are, however, very good drives and are excellent for high-capacity storage when you don't need high performance. I'd never use one for my OS drive; or for a high-performance server; but for a high-capacity auxiliary storage server (such as my video server), they're perfect.