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I am miffed that I missed the early bird price!
This (and most) SES has formally organized sessions if you want to 'sit in class' and reenforce the basics, or ask probing questions of the panelists (from google, yahoo, ask).
The next full PubCon will likely be back to the classic conference style.
That said, I don't think it's a question of 'either or' but a question of wether you will go to PubCon or PubCon AND SES. Everything I've learned at PubCon, I learned in the bar chatting over beers - far more valuable than anything you will hear at a formal session, but you have to be willing to talk to others (it's easy in this crowd).
Just say hello ask their 'nick' and if they would care for a link from your PR9... they will chat with you for sure. ;)
If I had the choice I'd fly to London on second, get a Expo hall pass and if anyhow possible a 1 or 2 day pass and leave London on saturday. You'll get lots of conference style Infos and PubCon style infos this way.
I'll be there from 1st - 5th and do complete SES and PubCon though I don't rate me as beginner. ;)