I’d put this laptop up against the Air any day.
Half pound heavier, quarter inch thicker - BUT, you get an optical drive, 3 USB ports, a PCI slot, Ethernet jack, and optionally GPS and high-speed cellphone networking. Not to mention a 4 hour battery life (and that battery is quick-swappable). Also, there’s a secondary battery slot (if it works like most IBM systems; the optical drive can be removed and replaced with an extra battery)
Of course, with Solid State Memory being the only option… I’d wager that this machine will not be cheap (though, I think that the Air with solid state memory clocks in at around $2800).
If I were looking for a premium ultraportable, I’d probably go with the Lenovo.
The Air is thin (no pun intended….) but it’s hardly a fully-functional laptop. It’s something to show off; or type on for two hours until the battery dies. You need a USB hub in order to have an ethernet jack AND a CD drive on the Air - that’s not “ultraportable”.
Plus, I just love the IBM keyboard, and the nipple (that red thing in the middle of the keyboard… you know what I’m talking about)