Regarding featured.php of my WP Theme..

I don't want my featured page published the whole article.. I want it as summary.. like in categories and Archive page.. I'm finding it hard to code the featured.php and base the modifications on page.php..

featured.php

<?php
IF(get_theme_option('featured_posts') != '') {
?>
<script TYPE="text/javascript">
	FUNCTION startGallery() {
		var myGallery = NEW gallery($('myGallery'), {
			timed: TRUE,
			DELAY: 6000,
			slideInfoZoneOpacity: 0.8,
			showCarousel: FALSE 
		});
	}
	window.addEvent('domready', startGallery);
</script>
<div CLASS="fullbox_excerpt">
	<div CLASS="fullbox_content">
		<div CLASS="smooth_gallery">
			<div ID="myGallery">
				
				
				<?php
				$featured_posts_category = get_theme_option('featured_posts_category');
				
				IF($featured_posts_category != '' && $featured_posts_category != '0') {
					GLOBAL $post;

					 $featured_posts = get_posts("numberposts=5&&category=$featured_posts_category");
					 $i = 0;
					 foreach($featured_posts AS $post) {
					 	setup_postdata($post);
                        IF ( version_compare( $wp_version, '2.9', '>=' ) ) {
                            $slide_image_full = get_the_post_thumbnail($post->ID,'large', ARRAY('class' => 'full'));
                            $slide_image_thumbnail = get_the_post_thumbnail($post->ID,'large', ARRAY('class' => 'thumbnail'));
                        } ELSE {
                            $get_slide_image = get_post_meta($post->ID, 'featured', TRUE);
                            $slide_image_full = "<img src=\"$get_slide_image\" class=\"full\" alt=\"\" />";
                            $slide_image_thumbnail = "<img src=\"$get_slide_image\" class=\"thumbnail\" alt=\"\" />";
                        }
					 	
					  ?>
					  <div CLASS="imageElement">
							<h3><?php the_title(); ?></h3>
							<?php the_excerpt(); ?>
							<a href="<?php the_permalink(); ?>" title="<?php the_title(); ?>" CLASS="open"></a> 
							<?php echo  $slide_image_full; ?>
							<?php echo  $slide_image_thumbnail; ?>
						</div>
					 <?php }
				} ELSE {
					FOR($i = 1; $i <=5; $i++) {
						?>
							<div CLASS="imageElement">
								<h3>This IS featured post <?php echo $i; ?> title</h3>
								<p>TO SET your featured posts, please GO TO your theme options page IN wp-ADMIN. You can also DISABLE featured posts slideshow IF you don't wish to display them.</p>
								<a href="#" title="This is featured post <?php echo $i; ?>" CLASS="open"></a> 
								<img src="<?php bloginfo('template_directory'); ?>/jdgallery/slides/<?php echo $i; ?>.jpg" CLASS="full" alt="" /> 
								<img src="<?php bloginfo('template_directory'); ?>/jdgallery/slides/<?php echo $i; ?>.jpg" CLASS="thumbnail" alt="" /> 
							</div>
						<?php
					}
				}
				
				?>
			</div>
		</div>
	</div>
</div>
<?php } ?>

Code (markup):

---------------------------------
page.php

<?php get_header(); ?>
<div CLASS="span-24" ID="contentwrap">
    <?php get_sidebars('left'); ?>
	<div CLASS="span-14">
		<div ID="content">	

			<?php IF (have_posts()) : WHILE (have_posts()) : the_post(); ?>
			<div CLASS="post" ID="post-<?php the_ID(); ?>">
			<h2 CLASS="title"><?php the_title(); ?></h2>
				<div CLASS="entry">
<?php IF ( function_exists("has_post_thumbnail") && has_post_thumbnail() ) { the_post_thumbnail(ARRAY(300,225), ARRAY("class" => "alignleft post_thumbnail")); } ?>
					<?php the_content('<p class="serif">Read the rest of this page &raquo;</p>'); ?>
	
					<?php wp_link_pages(ARRAY('before' => '<p><strong>Pages:</strong> ', 'after' => '</p>', 'next_or_number' => 'number')); ?>
	
				</div>
			</div>
			<?php endwhile; endif; ?>
		<?php edit_post_link('Edit this entry.', '<p>', '</p>'); ?>
		</div>
	</div>
	

<?php get_sidebars('right'); ?>

</div>
<?php get_footer(); ?>

Code (markup):