My Hack laptop is WAY too weak, and it's because it's totally feature-complete. It's a Dell Latitude D620 and everything is at 100% with a custom DSDT in 10.6.8 with all software updates.
I can't imagine owning a laptop where I can't close the lid, for example, and have it wake up when I open the lid again. The only thing marginally weird is I have to have a BIOS password so it'll wake up, and I have to have a USB flash drive plugged in to get the USB ports to wake up. I have a teeny tiny nub of a flash drive from Staples always plugged in so I don't even notice it's there.
It's every bit as fast as the late 2006 Macbooks, the first ones with Core 2 Duos - GMA 950, 2GHz Core 2 Duo, 250GB hard drive, 2GB of RAM. That Macbook would also be far too slow.
The good news is that we peons at work are receiving bonuses next week and I've got mine earmarked for a Probook 4530s.
I would point out that the Macbook Air being $1000 for its size is actually price-competitive (for Apple, anyway) with the Intel Ultrabook concept. Thin, light, tiny, and powerful. The 1.6GHz Core i5 in the 11" Air is MUCH faster than a 1.8GHz Core 2 Duo. Better graphics than even nVidia's chipset, more memory bandwidth, hyper-threading, turbo, and Sandy Bridge CPUs are much faster per-clock than even Nehalem, let alone Penryn.