I'm still catching up in my bloglines feeds, and found a reference to Intel's "Classmate PC." So immediately I Googled it and found their website which I'm sharing here: http://www.classmatepc.com
They're being sold on Amazon, starting at $399 for a 900mhz celeron, 9" screen, 40GB HD, and 512MB RAM that runs Linux. For $50 more you can get Windows XP.
The "second generation" specs look similar to the Acer I wrote about last night, but I don't think they're on the market yet.
With so much computing being done in the "cloud" these days, a large hard drive is not as crucial as it used to be. Battery life can be increased and weight reduced with the advent of flash hard drives. I'm very excited about the possibility of 1:1 computing with these new "netbooks." I can't wait to try one!