This Macbook was released in late 2006/early 2007. Although that may seem like a long time ago in computer-time, this Macbook still stays current. It comes loaded with features that many modern-day PC Laptops lack. It's fully compatible with all of Apple's latest programs and is still quick and nimble even today. My model is loaded with the Calistoga chipset and can support up to 3.2 GB of RAM (even though Apple will tell you that it will only take up to 2 GB). This RAM upgrade makes a huge difference with the overall speed of the system. I also upgraded mine to a 500 GB 7200 RPM Hard Drive which drastically increased the system speed.
It's not a gaming computer. This model comes with 64 MB of shared Video Memory. It's more than enough to stream 720p videos, but not enough to enjoy any serious gaming. This is more of a media device anyway. The only cons that I can think of are that it does not include an SD Card Port and that it only has 2 USB ports. Both of these issues are minor and are the same for all Macbooks. I can confirm that it is fully compatible with the upcoming release of OS X Lion and runs it well. I use it in conjunction with my iPad 2 and iPhone 4 and couldn't be happier. If you're someone that is looking for a good laptop that can do business and entertainment related tasks, then this is the one that you want. It's not a gaming computer or the best choice for heavy graphic work. However it will do everything else with ease and is an awesome addition to my Mac collection.
*NOTE: To run OS X Lion, you must upgrade this to at least 2 GB of RAM. The included 1 GB is not enough to run the new system.
EDIT: After installing the latest update for OS X Lion, the system now recognizes all 4 GB of RAM! It would not recognize more than 3.2 GB in Snow Leopard.