Minecraft's frame rate would be very low on such a thing. To get 30+ (playable and more) try something like the ASUS K55N-DS81 which goes for about 380. You can see the difference in the GPU. It's your budget gamer as far as I can tell today. Yes, our family owns 2 of them after a tip from a friend.
My brother is asking for an Asus Vivobook x202e for his birthday. More than anything he will be playing minecraft and will be surfing the web, but he will probably be spending at least a few hours a day on minecraft. He likes the idea of the touchscreen and I guarantee he will be downloading some light games on windows 8. He's not a huge gamer so he doesn't need alienware grade or anything like that.
Also, we are thinking if he got one we would upgrade the hard drive to a solid state drive, since he might be slightly rough on it and I've heard that minecraft absolutely fries hard drives.
The computer he's been using an HP Probook 6550b and it freezes and crashes every 2 minutes when he plays minecraft on it.
I've heard nothing but praise for this laptop, but I just really want to hear from someone who's had experience specificly with minecraft on this exact computer.