Well, yeah, but I wouldn't do development work on my netbook. I use it purely for entertainment. Reading, movies, music, and surfing. If I could find a 7-8" form factor netbook for a decent price (not over $300 as most of the good small ones are), I would pick it up in a second!
Thinking about it now though, I might use my netbook to do work on SQL Server Management Studio once in a while.