This model has a 4GB RAM with 320GB, which is good. The weak point is the processor, which is Dual-Core but only 1GHz, but dispite this the performance of the Acer is very good. In fact I run demanding CAD software packages on this laptop all the time without the performance being affected too much at all.
The most important thing about this laptop is portability. It's very light and I can barely feel it when I carry it in my backpack, and the battery life is fantastic. I can get more than 4 hours out of the battery, but this is shortened considerably if I'm playing music or watching videos. But still, excellent batterly life. The keyboard is compact, and takes some getting used to if you are switching from a larger laptop, but once you have adjusted you will find it very ergonomic.
Being a compact laptop, the screen is rather small and therefore not ideal for watching movies on with your friends, but I find it perfectly adiquate for watching movies on my own with my headphones on.
Other things to be considered are the speakers, which aren't loud, but then again you can always plug in some external speakers.
The major downside to this laptop is that it has no CD/DVD-ROM, and I have had to download software and drivers as opposed to buying them in store. The alternative is to buy an external ROM, which considering the cheap price of the Acer, may not be a problem.