Recapping the stats on the IdeaPad:
10.2” WSVGA TFT (active matrix)
Intel Atom N270 1.6GHz
512MB RAM
80GB hard drive
1 ExpressCard Slot
2.4 lbs
Original loaded OS: Windows XP Home

Now the ThinkPad 240:
Intel Mobile Celeron 300, 366 or 400 CPU
Neomagic MagicGraph128XD with 2MB VRAM
10.4″ TFT display with 800×600 resolution
64MB PC-66 memory standard, (soft) max 192MB (I have 320 in mine!)
6.4 or 12GB HDD
IrDA 1.1
ES1946 (Solo) Audio controller
MiniPCI slot with a Lucent 1646 Modem
CardBus slot (Type 2)
2.8 to 3 pounds, depending on battery used.
Released in 2000.

Basically the ThinkPad 240 had the same niche upon its release as the Apple MacBook Air has now: a very expensive and light little computer meant to be a CEO toy. The 240 came with a floppy drive, and you had to get a 3rd party PCMCIA optical drive if you wanted an optical drive option.

However, NOW it feels like the true predecessor of the Netbook. Only this little Netbook has a REAL THINKPAD KEYBOARD and a Trackpoint pointing device, complete with little red “eraserhead” cap. Considering how crappy most Netbook keyboards and pointing devices are, it’s good to have a Genuine ThinkPad keyboard and Trackpoint.

My 240 is going to have a 16GB Transcend SLC-type SSD drive as soon as I get it from eBay. This should lighten it up, even with the high-capacity “hump” battery, and I should have ZERO netbook envy.