Depends what you want it for Wheels! Its only a notebook and only 1gig so not gonna be very fast online.What do you want to accomplish with it?
watching films uploading photos browsing the net and skype (off the top of my head)
1.66Ghz Atom and 1GB RAM, and its "not going to be fast online"... what a load of shit people really do speak. It has XP on it, im currently running a 1Ghz 100FSB Coppermine with 512MB RAM with XP SP3 when im not using the lappy and its 100% fine for everyday tasks and even multitasking, just don't even CS3 runs okay on it, it just takes a little longer to load than a more modern PC. You can perform some very simple optimization tweaks to improve speed no end.
The Atom however, "wont" really be suitable for HD unless its dual core, however I am not there would be no benefit on such a small small screen so unless you are going to link to another screen, this wont matter. It probably wont have a DVD drive either, but check this as it may have. Not a problem for DivX's but not the best idea if you were planning to run DVD's.
It will be fine for your needs, as to whether its a good deal or not, probably okay because its a Vaio and they command higher pricing than other brands, but it depends what its worth to you.