This thing will certainly not replace your DAW, but being so lightweight, it is a handy toolbox for on the road. It only has a 900mHz processor and comes with 4GB solid state memory. The built in SD card slots is a valid replacement for extra storage (SD cards are very cheap nowdays).
So is this thing powerfull enough?
Well, I remember starting out with a 133Mhz pentium processor running cubase back in 1997. It had 64Mb of ram and 2 harddisk of 1 GB. A top spec Pc in those days costing me 6 times more than the Asus eEe which is exactly 6 times more powerfull than this acient DAW...
I rest my case
Anyway, you can install WindowXP on it, or install your favourite Linux distro running Ardour and many more...
I'm sure we'll see more of these devices in the future...
Moon