Just quickly to comment my story:
1. Upgraded RAM and HD on the Dell mini
2. Installed Windows 8 Customer Preview. Partitioned the 250GB, three partitions. The main issue is, besides speed, the screen resolution, had to resort to using a higher, non-native resolution for metro apps to work. Besides that, its like Windows 7 with a not very impressive GUI taped on top.
3. On the second partition installed Windows 7 Ultimate. This OS really makes the netbook shine, Windows 7 starter is half the reason why the mini feels limited.
4. Then using a NBI....351 USB boot drive (128MB), an 8GB Snow Leopard installation USB and a 16 GB destination USB disk, installed SL. The biggest problem here was patience, installation took just a bit more than 24 hours, im not kidding here. My suspicion is that because of having to shuffle an USB mouse and the 3 USB drives, the SL installer mistook either the source or destination drive as USB 1.1
5. After that, booted again into the SL installer to "restore" the OS X installation from the 16GB pen drive into the 3rd partition in the HD. This was really quick.
6. After repairing the Windows MBR, booted into windows 7 and ran EasyBCD to create the Snow leopard entry in the BCD boot menu.
8. Booted one more time with the NBI drive and tested OSX, so far so good. Then installed the NBI app and the chamaleon bootloader, then restarted, and viola! a cute boot menu with 3 OS. After that my 9 year old starting to experiment with the computer, so I guess its pretty stable.
I do not plan on upgrading OSX to 1.6.8... If it aint' broken... why fix it?
The whole thing took several days, and I still got things to install and tweak... so unless youre very patient I would not dare to say it is really worth all the time, specially reading the web!