All netbooks will be capable on running Windows 7.
A Microsoft spokesperson told betanews.com that, “Any SKU of Windows 7 will be able to run on netbooks, which means that the hardware limitations of a netbook won’t affect the functionality of Windows 7 regardless of SKU. With Windows 7, Microsoft is on track to have a smaller OS footprint, an improved user interface that should allow for faster boot-up and shut-down times, improved power management for enhanced battery life, enhanced media capabilities and increased reliability, stability and security.”
The spokesperson also responded on the issue of the Windows 7 Starter edition that it limits users to opening only three programs at a time. HeĀ says that this issue and other specific limitation should not be perceived as encumbered or “defeated”.
Source: Betanews.com

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Lee
Running OSX on netbooks is becoming a trend right now. Apparently unlike a lot of other hackintoshes you can download software updates and it functions just like it Mac. Until Apple puts the kibosh on it.
http://blog.wired.com/gadgets/2008/09/it-lives-gadget.html
I think I’ll stick with I light version of XP Pro or Ubuntu for my netbook needs. There is really no need for Windows 7 on a netbook IMO.
Everyone I’ve spoken to that’s put Win7 on Netbooks says it runs great, often better than XP, and way better than Vista. I know the guys at Icrontic have done extensive testing with Netbooks and Win 7.