Just one year ago, there was no such thing as a netbook. The word simply didn't exist. Today, however, everyone and their contract manufacturer seems to have at least one of a new breed of diminutive portables available for sale or looming just over the horizon. This explosion of interest in what was formerly the budget subnotebook space all started with Asus' Eee PC—an unlikely hero saddled with a low-resolution 7" screen, a cramped keyboard comfortable only for munchkin fingers, limited storage capacity, an underclocked Celeron processor, and average battery life.

My, how things have changed.

Today's netbook market is littered with much more capable devices powered by Intel's slick new Atom processor. Screens have gotten bigger, too, bringing with them not only higher display resolutions, but enough space for larger keyboards that can easily accommodate adult hands and high-speed typing. Storage capacity has also risen to the occasion, and battery life and connectivity options have expanded. The netbook has quickly grown up before our eyes.

I quite liked the first Eee PC, but despite its infectious novelty and honest-to-goodness utility, what is now known as the 700 series is hampered by too many limitations to be a viable notebook replacement for most folks. Asus' new Eee PC 1000 40G, however, is another beast entirely. Perhaps the most mature of this latest crop of netbooks, the 40G sports a 1.6GHz Atom processor, a 10" screen with 1024x600 display resolution, a 91% keyboard, 40GB of solid-state storage, and a six-cell battery. Of course, the Eee PC's form factor has grown to host this new goodness, and so has its price. Read on to see whether the result strikes a good enough balance between value, functionality, and portability to make you reconsider your next netbook—or even notebook—purchase.