The Air is actually really well done. It's a Core i5/i7 (current top of the line), 4GB of RAM, and with a new Intel HD3000 graphics chip, which is able to play TF2 full screen at a usable framerate.
I've never used another laptop with embedded graphics that could do that.
It's not 'Crysis' good, but it's damn good for a cheap little laptop (especially compared to this Razer monster).
Just to add a small correction - the air does not have 'top of the line' i5 or i7 processors. Rather, they use a slower, dual-core mobility model. I'd also argue that it is 'cheap' - but that's more of a relative point. :)
The Core i5/i7 line of CPUs is currently the top of the line. Of course it uses the 'mobility' model, but it's still the current top of the line.
$1199 ($50/100 off if you're a student) as configured. Show me another laptop with it's form factor and capabilities for that price? Hell, show me another laptop with it's form factor and capabilities?
$1000 for some so convenient is a STEAL, especially if you actually make money using it.
Because they chopped the amount of cores in half and neutered the speed, it is not a top of the line CPU, even if it is called an i7.
That being said, in my opinion no other ultra-portable comes close to the Macbook Air. If I could justify having two laptops I would be ordering one right now instead of typing this.