OMG. I totally agree. I couldn't stand looking at it. It looks like it's been coated with cheap wall primer. Plus... just like black (although black is ubercool), white is one of the worst colour a machine can be.
Most people don't realize that they made computers in various shades of beige because that's the colour of dust (90% of the dust inside your house being your own dead skin). So a beige box always looks cleaner than any other colour.
If you're gonna paint over a computer, at least make a decent job of it like that ubercool (word of the day btw) teal 1200 I've seen here in the pics section.