The idea isn't as far fetched as some are indicating.
Only if he doesn't mind using the computer only at his endpoints. He says:
traveling light is very important to me. So is connecting to the net when traveling
I think most of us are assuming that he wants to use the device at the airport or other times when he's not at one of his endpoints. If not, the screen is probably taken care of (TV at the hotel, LCD on-site) though the keyboard will add bulk unless he works like you do.
More importantly (possibly) he's going to look like an idiot if he insists on a projector and has to use the setup in front of his clients, who will mimic lots of the other Slashdotters' comments of, "Why the hell aren't you just using a laptop?"