My main computer is a Dell Vostro laptop. I don't have the specs memorized but I bought it on ebay for about $520. It's served me well. The only annoying thing I find (it's my first laptop; and first/only computer with Vista) is the scroll pad under the keyboard that my thumb will sometimes tap when I am typing which causes the screen to suddenly begin scrolling down.
But most laptops have that touchpad under the keyboard so..
I'll play an occassional game on the laptop (Total War: Rome Barbarian Invasion, Galactic Civilizations II, Cossacks, Command & Conquer Tiberiun Sun) with no problems (other than getting them to work w/Vista). I do not play World of Warcraft so I don't know if it would hold up to that.
I just purchased my wife an Acer Aspire One mini-laptop off Amazon.com but she will not be opening the gift until this weekend so I cannot say whether or not it was a good investment.
In the reviews, the only bad thing I read was the cooling fans seemed noisier than the reviewers were used too (or was enough for them to notice) and it has a battery life of about 2-3 hours (I am being conservative in this, I don't remember exactly what they wrote but the Acer's battery life would be enough for what it was to be used for.. namely a writing notebook for school and internet surfing.