Tiger is slow(Just as slow as Panther) even on my 600MHz iMac w/ 512MB and 7200RPM drive. It is worse than running Leopard on my 1GHz 7455 Digital Audio w/ 1.25GB and 256MB GF6200 and 500GB SATA HDD.
So, decent, yes, it will work. Just will be lacking.
But yea, I can see how it would be totally awesome when coming from a 333MHz TL.
I also completely get what you are saying about the SL looking quite a bit nicer/polished/etc than the TL. In person, side by side it is really noticeable.