There are sleeker, better built and better performing ultra mobile laptops from NEC and Dell at more competitive prices. I've had first hand experience with older Portege R100 and didn't like the fact that I had to lug an external dvd drive. Not very mobile huh? Also the outer finish was a cheap imitation ibook and easily scratched. Also, the integrated graphics are crappy at best, coupled with low performance slow hard disks.
When you're looking at ultra portables, see that you get one with integrated optical drive. Or else, most probably, you'll end up regretting your decision later.
Inspiron 700m are an excellent choice for ultra portables with everything on board. No need for external drives.
For USD 1467 you can get -
Intel® Pentium® M Processor 725 (1.60 GHz/400MHz FSB)
12.1 inch WXGA
1GB DDR SDRAM 2 Dimms
60 GB Hard Drive 5400RPM
8x CD/DVD burner (DVD+/-RW) with double-layer write capability
Intel® PRO/Wireless 2200 Internal Wireless (802.11 b/g, 54Mbps)
Intel® Extreme Graphics up to 64 MB shared memory
Microsoft® Windows® XP Home
1yr ltd warranty, 1yr mail-in service and 1yr tech support
Weight 1.86 kg