If you want something lighter, CrunchBang is based on Ubuntu but uses OpenBox as the wm. It's lighter and cleaner than Ubuntu Netbook Remix.
I ended up using CrunchBang on my 701 as UNR was an absolute dog.
That said, when (if?) Elive 2.0 is released I'll be dumping it.
Linux has its quirks, and in some cases it can be utterly infuriating. But I have found that once you have it working *just so*, it'll remain that way unless you do something really, really stupid. Windows, even Vista tends to degrade over time even without constantly adding/removing applications in my experience.