A very cheap (starting from $199) Laptop--ASUS EeePC 701.

The specs from the unoffical EeePC blog

Display：7″
CPU & Chipset: Intel mobile CPU & chipset
OS: Linux/ Microsoft Windows XP compatible
Communication: 10/100 Mbps Ethernet; 56K modem
WLAN: WiFi 802.11b/g
Graphic: Intel UMA
Memory: 512MB, DDR2-400
Storage: 4/ 8/ 16GB Flash
Webcam: 300K pixel video camera
Audio: Hi-Definition Audio CODEC; Built-in stereo speaker; Built-in microphone
Battery Life: 3hrs (4 cells: 5200mAh, 2S2P)
Dimension & Weight: 22.5 x 16.5 x 2.1~3.5cm, 0.89kg

I love everything, except the 3 hrs battery life. Can't expect too much, an arguable tradeoff for the small size and mass. The first review on EeePC sounds positive, 1st thing I buy when I get a credit card.

For me, the main purpose for the laptop is to become A moveable PHP server + C++ developing environment + occasionally use the nice looking keyboard fight LF2 players in the world.

For everyone else, EeePC is a great present for people who need a computer to consume small amount of multimedia, web browsing and note taking.