My own specs : Intel I3-2367 1.4Ghz ; 2 + 4 GB RAM ; HD: 320 GB 5400 rpm; Intel N1000 Wifi card; 6 cell battery; fingerprints reader; Windows 7 64 bit Home Premium
Price (December 2011): 423,29 euros (Lenovo website France) + 20,89 euros (4GB RAM - Amazon France)

I’ve been using the X121e for 4 months and it’s just great!

Performance: For that price I can do every daily task without any problem (Plenty of chrome tabs + word + excel + etc). I can also play L4D 2 on Steam with my friends without any troubles. All that in a 1,5 Kg body!

Hardware: It’s a very solid construction. No special material like the best in class Thinkpad X series, but a very solid black mate plastic with no bends at all. And the fingerprint reader is very good for not tipping your password.
The best keyboard! The only little things are the Ctrl and Fn switched keys (you can change that in BIOS) and no windows menu key, where they put a Print Screen key (I changed that with KeyTweak).
The only really bad thing is the touchpad. Quite small and not very good in multi-touch gesturing (two finger scrolling works quite bad), but I got used to it (and bought a wireless mouse that I use for gaming).
The speakers are not good either and I have the Edifier MP250 for a great sound (http://www.edifier-international.com/products/edifier-image/sound-go)!
A 11,6”, 1366 X 768 mate screen with decent angle views (for a standard non IPS screen).

Battery: In a daily use I can easily get 5-6 hours of battery life with max screen brightness and 7-8 hours if I keep it darker.

It’s a great laptop and I believe that’s the best, non ultrabook, light 11,6” laptop in the market for the price!