This is awesome. No HD, no OS, no RAM installed. Back in the day you could never get something like this. The ram is like 40 dollars. I want one.
I would caution against 10" netbooks. Maybe I'm just being picky, but I find them intolerable for anything but brief intermittent use. Screen and keyboard are both too small for me.
Of course if you have a spare monitor and keyboard to attach to one, that takes care of that, but the single-core Atom CPU that powers most of those things is going to struggle with higher quality flash/video.