I feel the processor choice is crucial. Provided it can do HD video I think that is reasonable baseline.
If this comes with at least the intel 4500hd it can do HD video, heck from what I hear the the Atom Z cpu, with the Intel GMA500(like in the Vaio P, and a few other netbooks) can do HD, with a few videos causing a bit of a stutter. So, unless your talking about Flash HD, which requires at least the Dual Core cpu view it with out to much of a lag, then HD video isn't the best of marks imo. Oddly enough, the GMA950, which older Macbooks and many netbooks have, can't do HD video(with out stuttering), but do have slight better gaming performances vs the GMA500.
I am hearing that if this comes with a Pineview cpu it will have 18W combined power usage(gpu and cpu), vs the 10w for the SU9x00 line and 17w for the SL line cpu. I hear the gpu should be better than the intel 4500hd but not sure about the cpu, but it could be faster than the SU and SL @ lower power usage?