I am running Windows XP Pro and Windows 7 in dual boot, currently. I am hoping to put OS X on there at some point, and some other flavor of Linux (I need the practice). If the tools I need for my job and school had current drivers under Windows 7, I'd take XP Pro off.
In terms of programs, I think others have said it best in other areas of this forum. Yes, the netbook is good for word processing, and other, minor activities. However, if you are going to do much more, you may want to weigh netbook ownership against full notebook/laptop ownership.
So far, I have successfully tethered a phone for WWAN, word processed, reviewed PDFs, watched Netflix videos, Skyped, IM'd, emailed, web-surfed, configured network hardware, VPN'd and played old video games with my son.
If you get one and use it as intended, or understand its limitations even as you push their boundaries, I think you will be very happy with your purchase.