Please do tell me it has either a 128 GB SSD or at a minimum a 120 GB HDD? As long as it has a Penryn CPU and Nvidia graphics, you're okay. I feel it was a really good deal if has 128 GB SSD. If it has a 120 GB HDD, you paid about the exact current secondary market price for a used MBA.
If it's the original MBA with 80 GB HDD, you paid at least $250 too much. The problem I see is many people don't understand how inferior the original MBA was, and they buy it not knowing its deficiencies. On the other side of the spectrum, buyers get good deals on the high-end newer MBAs as people don't realize how superior they are than the originals.
Original MBA = sellers advantage if they bought for $999 and used for a year and sold for $650 they did really good. I have seen quite a few original MBAs lately for $600 to $650... my friend just made an offer of $490 for an original with a 1.6 GHz CPU and 64 GB SSD and got it. That's a pretty good deal (I would say $250 better than average including 64 GB SSD), but then many people think 64 GB SSD must be a negative as it has less drive space than HDD at 80 GB.
Newer MBA = buyers advantage if they can pick up around $1200 for latest model with SSD. People don't understand how big of an advantage the Penryn CPU and Nvidia GPU so they're not willing to pay more.
The MBA is really a tough computer to buy on the secondary markets. I would personally try to stick with Apple refurbished for the best deals, one year warranties, and best recourse for problems with any parts. I just don't think most people RESEARCH what a new MBA costs with a full one year warranty via Apple.com refurbished or new. And I don't feel people research to see the greatly added values for the money of newer MBAs. Plus, the huge price drops actually make buying straight from Apple the most reasonable deal. People had a hard time selling their original 1.8 GHz MBA with 64 GB SSD for $999 after they paid $3099 for it a year earlier... but Apple offered them brand new now for $1299.
The MBA is really hard to buy second hand, so I would advise people do a lot of research and ensure they're getting exactly what they're paying for and they're buying based on current valuation of MBAs and not what the seller originally paid for the MBA minus a certain percentage for uses.
What doesn't help is the original high-end MBA dropped from $3099 to $1299 in eight months. The original low-end MBA dropped from $1799 to $999 in eight months. That was the pricing available as of October 2008... the values have dropped further since if they're used computers.
The high-end rev B MBAs were sold for $2499 and eight months later dropped down to $1349 via refurbished store. While the low-end went from $1799 to $1099.
Finally, the last update provided a $700 new price drop on the high-end MBA!
Bottom line, do your research before paying far too much for an MBA. I think it's hard being a seller and thinking your MBA held its value as other Macs, but the MBA just doesn't succeed in holding its value. Even Apple cannot keep prices up with each new release. Never have I seen Apple drop prices like this and dump computers as it has with the MBA.