Low-cost laptops vs pricey competitors

Can low-cost "laptots" stand up to their more pricey competitors?

Is there any point to buying a full-size laptop now that small, light and cheap ones are all the rage? For the past five years I have used IBM X series ThinkPads, which are light, and fairly small, but no one could call them cheap. The latest, the X300, competes directly with Apple's MacBook Air and costs a thousand dollars more than the little Linux-powered Asus Eee.

So if all you use a laptop for is reading and writing, what is the point of the extra money? Surely all you need is a keyboard, a screen, wireless and a couple of USB ports? Not that the expensive models from Apple and IBM/Lenovo offer much more than that.