As to "underpowered toy": Yes, if you compare the N800 to your desktop PC with a huge 3D Nvidia 200 watt-sucking graphics card.
However, compared to my other 3 ARM CPU powered devices (PDAs mostly) then the N800 shines. It's good, and it does what I want it to do: It lets me leave my laptop at home when I'm wandering the streets and coffee shops, and in its bag when I'm at the airports. And a lot of other situations.