I've been using a laptop for the 1 and 1/2 year I was in school. I use it to take notes, do my assignments, and surf the net during class hours(on days when class lecture or course really gets boring!!!

). Its really wonderful that I don't have to use the much limited desktops that the school provided us with. I've a Dell Inspiron 8100 btw. School has 802.11b as well, so I can get hooked onto the 'net anywhere anytime, don't have to worry about no computers around or all used up.
A P3-1.2Ghz w/512mb ram, DVD/CDRW, 15" SXGA display, and a Radeon7500 mobility will suit your needs/wants just fine. Dell has a 30-day money back guarantee (less shipping cost) so why not give it a try and if it doesn't work out for you just send it back? Or like some say here get a used cheapie laptop and not worry much about it getting stolen? I highly value the ability to do my work and bring it with me anywhere I go. I'm not always confined to one space. I have a desktop as well. Like others, I find myself now using the laptop 99% of the time, the desktop is just eating dust right now really...
My 2 cents

Plucky