This is a great computer. I am a student, but somewhat of a power user. I do a lot of programming and heavy audio file processing. I am also a SERIOUS multitasker (e-mail, word processor, Twitter, music, browser with multiple tabs, all open at once), so was looking for a machine that would let me do that.
The 4 GB of RAM and i5 processor are lightning fast. You won't have to close iTunes before using other applications anymore, that's for sure. Don't forget to uninstall all the crap you don't need before you get started - this will make it even faster.
The screen is crystal clear and very large. One con is that the screen is glossy. I prefer a matte screen because they show fingerprints less and are easier to see from different angles. But no big deal.
By the way, the casing is NOT bright blue like it seems in the picture. It is navy blue with a bit of shimmer, kind of like a car paint finish. Very attractive and not at all cheap looking.
The keyboard is a nice full size, despite having the full number pad on the right hand side. There is a handy button next to the trackpad that disables it so you won't get annoying mouse jumping as you type.
The one thing that REALLY annoys me about this computer is the extremely loud beeping noise it makes when you plug and unplug the A/C adapter. Even if you disable system beep and change the theme sounds to "None", it still beeps. Just remember to mute the sound before plugging/unplugging and it won't embarrass you in public. Acer should really address this annoyance, though.
But really, this is a GREAT buy. You won't regret purchasing this computer.