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It should be enough no problem. And I don't think 160gigs is a good estimate for music. I have a lot and its only about 35gigs.
I rip all of my music to flac, uses about 250-300 mb per CD. So I have a solid 100+ gigs for music.
Add in any movies you may have (at about 4 gigs apiece) and it starts using space really quick. I occasionally use an HD camcorder and about 2 hours of video from that takes about 15 gigs. But an external is usually best for that...you don't have to carry all of that around with you.
I have a 320 gig in my laptop, I have about 280 gigs full. Plus 500 gb filled on a 1 TB external.