Yeah, I just need something that can browse, display PDF files, run capture/layout, cross-compilers. That's why I just keep putting it off until I absolutely get down to coding for a big project. I've kind of gotten used to doing layout and compiling on dual monitors though. I'm not entirely sure there are any netbooks that could feed out to two external monitors, and those two monitors would cost more than the netbook!
Playing movies would be nice while I work, but I'd amost have to certainly rely on my external HD for that kind of thing.