Toshiba is a very good brand. I'd take Toshiba in almost anything over any other Japanese brand. The Pentium parts are not the new i3, i5, or i7 or even the previous generation Core 2. That said, this is a derivative of the Pentium M which is vastly better than a Pentium 4. It is a 45nm part which means it will run very cool at 1.3MHz. It is a dual core too. And the fact that it is 45nm means that it is a very recent piece of engineering which means it is a "new" Pentium processed in a modern fab. Actually, the specs say 10 watts TDP! I like it. These are much more robust than the Atom parts.
It says up to 10 hours of battery life which is awesome.
4GB of DDR3 memory means that this chipset associated with this system is also a very modern design. 4GB is alot of and DD3. Nice.
It has an HDMI port so you can drive another monitor/TV which you should count on. The standard screen is small but has good pixel density (1366x768). Supports b/g/n wireless 11 networks so that is good. 3.88 pounds is stellar. I like small screens cuz I HATE carrying around 17" labtops that weigh 10 pounds. The battery life is fantastic.
What I'm getting at is that often the lower priced systems are just very old parts. This is definitely not the case. This is an engineered low power, cool (temperature wise), very light weight, laptop.
Much more powerful than a netbook. This will be very good bang for the buck.