Running it with no problem at all on my 1.8SSD. The MBA has loads of power (it is a dual core machine, after all) - I run VMWare, Photoshop CS3, Aperture, Eclipse, JBuilder and XCode and it doesn't struggle with any of them
Same here, except on the 1.6 HDD. Also no problems. Many folks talk about how 'under powered' the MBA is, but it's really not - you can do just about all your everyday tasks on one other than intense graphics work.
I was wondering if when you are using the iPhone SDK and you begin to run tests with the iPhone Emulator can you use the Multitouch capabilities available in the MacBook Air and MacBook Pro touchpads to test touch features you build into you iPhone app?