I know a bit as I was in the market for 11in laptop, last year, that had more power than your standard netbooks, so I know a bit.
The discontinued Vaio TT has the same cpu options as the 11in MBA; however, gpu isn't as good. The Vaio TT weighs a bit more at 2.7lbs, but some of that is due to the extras it comes with like mini-firewire, optical drive(BD optional), express card slot, and HDMI(optional depending on region). Best part is despite bing a business model, the screen is a 6bit matte-ish display, and up to 10 hours(seen a couple of users get that on standard battery and SSD) of battery life with 6-7 the norm. There is also the handy battery care function were you can limit max charge to 50% or 80% to save battery life when you know you are going to be plug in a long time.
Sony also has a 12in G series line, but that lacks a web cam, but it suppose to be lighter and even more business oriented.
Then there is also the older 12in Toshiba R600, which has the same specs as the Vaio TT, and comes weighs in at like 2lbs w/o optical drive(something like 2.3lbs with). It also comes with express card slot couple of usb ports, and optional GPS. Only downside is the screen is average, and the keyboard as a light flex from what I read.
There is the also the X200 line, which can be had a with a variety of cpu options and the newer i core X201 also with a few cpu options(ulv to standard), and a host of other features previously mentioned. Plus, it the only one with a tablet option.
HP has the 12in Elitebook 2530 and newer i core 2540, with ulv to lv cpu options on both. Again same options and specs as the others listed here. Then there is the consumer 11.6in DM1 that comes in either AMD or intel models, with intel models being a bit faster atm, and AMD models having the better ATI IGP.
Acer also has the 11.6in Timeline series which comes in SU line and LV i core cpu, and I think I read in Asia and parts of Europe an optional ATI gpu. There there is the AMD models, which like the DM1, better gpu, slower cpu. Build quality is a bit iffy there.
Only downside to all of these is the fact they don't come with the better gpu option of the MBA line standard. But, they all have express card slot so if you wanted to you could use an external desktop gpu, and express card vid-dock solution, but that requires you use an external monitor, but that option is there. Looks are subjective, but imho the Vaio TT looks very nice for a PC and equal to the Air in terms of looks.