Just like the president of the United States of America?

I wouldn't label this as an EEE killer quite yet...
If you care to hear my reasons, here they are: 1. No SSD drive. That is pretty much the dealbreaker for me and a good number of other people that equate ultra-portable with ultra-durable. 2. That claimed battery life of 7 hours is with the extended battery which bumps up the final weight to 2.6lbs. While still awesomely light, it's starting to get into a territory where with a larger investment you can get a laptop of same weight with all/most of the features of a regular laptop. And, while the EEE currently lacks this battery power, once it gets an Atom refresh battery life should improve. I believe the current weight of the EEE 900 is 1.99-2.1lbs (depending on which source you read). Hopefully it call manage to squeeze 5-7 hours with an extended battery and Atom at 2.3-2.4lbs.

Besides that, things are looking cool. All these new ultraportables are really exciting. I can't wait to see what Dell has in mind.

"context is pretty important"

I would go so far to say that context is everything. Put the painting of a famous painter, a guy that can sell a painting for a 'million and a half dollars', out on the street and very few people care. I wonder what would happen if this experiment were done in reverse. Go to a random street in New York where some random guy is selling his painting on the street and put that in a museum. Stand by and see how people will blab about it, using as many sophisticated terms as they can while the artist looks on and laughs saying he was just looking to make a few dollars to get some food.