I recently test drove the 2011 Outback with the CVT. I am a stick-shift kinda guy all the way, and even converted my wife to preferring sticks - but this CVT felt great. It really depends what kind of driving you'll be doing. If you cruise the highways into the wilderness, then I'd stick to the CVT. If city driving is your bread and butter, the stick may yield better results.
I personally was in awe of the 1600-1700 rpm going 65 mph down the highway. 35 mpg is a realistic number at those rpms.
Plus, for the manual control aspect - the transmission comes with paddle shifters and a manual gate on the shifter. So anytime you need to "drop a gear", a flick with the left paddle and the CVT simulates a lower gear for engine braking.
I'd say test drive both versions and see what fits your needs better. Oh, and kindly let us know what you decided!
BTW: an updated engine is coming to Subaru within the next year or so. They claim slightly better mileage...