I fail to see why so many people want (or already purchased) a stripped down laptop with a small keyboard, low-resolution screen, small hard disk, no CD/DVD drive, and weak processor. Even the main selling point of Netbooks--battery life--isn't usually there unless you pay extra for a premium battery.
I understand the Netbook's appeal of (relatively) low purchase price compared to a full-featured notebook. However, the Netbook has a small screen with less than 800 x 600 resolution (a common resolution back in 1997), a small, cramped keyboard that's difficult to type on, no optical drive (standard on every laptop since 1998), and few IO ports. And of course the processor, graphics card, memory, and hard disk capacity are all very poor--even compared to bargain laptops from 3 to 4 years ago.
Instead of comparing the $300 to $500 Netbook to a brand new $500 to $1200 full-featured laptop, I suggest people compare it to a good used laptop from a few years back. A typical 2005 to 2006 laptop has a Pentium M or Turion 64 processor that's light years beyond the Netbook's CPU, a 1024 x 768 (or higher) resolution display, 80 gigabytes (or more) of hard disk space, 512 megabytes (or more) of memory, a powerful graphics chip, and an integrated CD/DVD drive for loading software and backing up data. A used laptop will cost FAR less than the Netbook, and provide years of enjoyment, long after the initial "thrill" of owning a super-small computer would wear off.