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I have been running Windows 7 on my MacBook and I hardly boot into OSX anymore. The HFS drivers coming in snow leopard will be welcome even though it is read only (supposedly to prevent the mac partition from being messed up by viruses.
I use the windows 7 RC on my macbook via bootcamp and have found the battery life almost the same as osx. Especially if you actually use the power saving menu and switch to low performance.
That's more to do with providing a cheap version of windows than the actual problems of netbooks running the OS. Also even if XP runs slightly better all of the other benefits of Windows 7 outweigh the performance gain.
Okay first of all windows 7 works on PCs that are relatively underpowered (netbooks), and if you have a computer less than 3 years old it should be able to run vista.