I use this laptop for work, all our machines are Lenovo (formerly IBM) and i've not had any problems to date.
This particular laptop is small, the 12.1" screen makes the laptop incredibly portable without it being too small to practically use. I can easily fit it into my shoulder bag to bring home, etc without the need for a proper laptop bag. Its relatively light too at 1.6kg its easy enough to carry around if needed.
I've not found the performance of this machine lacking in any way. I use it purely as a business machine so i use no gaming or multimedia functions but for a business laptop the performance is top notch. Its quick to boot up, quick to open new programmes and hasn't crashed yet!
From a useability perspective the small size does cause issues, the keys are close together and there is no touchpad mouse, which is annoying! There is a little 'pointing stick' mouse in the keyboard - this takes some getting used to!
On top of all the standard specifications in the technical details section there are a few interesting additions...there's a fingerprint reader (i havent worked out how to use it yet) and also an integrated webcam above the screen. There is no optical drive on this machine due to the size, you have to get the Ultrabase docking station for it which is probably worth getting if you're using this as a main PC as you can attach proper keyboard, mouse, monitor etc.
The top benefit of this laptop has to be the battery life, it is excellent, i can consistently get over 6 hours out of it on a single charge with normal useage - potentially more if i played around with the settings.
In summary, for what i use it for its great, reliable, solid, good performance and most of all small and light making it ultra portable.
My main concern with this machine is having seen the retail price of this at over £1000 (mine was paid for by work) i think you can probably get much better for the money!
I'm afraid i can't comment on the software that is pre-loaded as my company re-builds these machines from scratch on a Windows XP operating system. Although the sticker on mine says Windows Vista so i presume the standard operating system now would be Vista or Windows 7.