You need legs to put the keyboard at the right angle to touch or nearly-touch type. My Compaq has no legs. Bad fault in terms of usability.
I hate scratch pads with a passion.
Other than that, I hate short battery life and will never again buy a laptop or smaller without 9 hours battery life - my Compaq has a useless two hours - that's not even one lecture if I were using it to control something stupid like powerpoint slides. In fact I am almost tempted to go and buy a new laptop just to get the longest possible battery life. A second best would be swappable batteries.
Also never again will I have a less than full-size keyboard, 92% is a pain in the arse.
I'd like an internal dongle - I am always scared of breaking off the USB one.
I'd like a dual-layer DVD writer.
I don't trust the security of WiFi connections. In fact I'd always rather have a hardwired network connection.
I'd prefer solid state "hard drive".
And about 6 USB ports.
I hate the aspect ratio of netbooks. Displays should be the shape of an A4 page, portrait not widescreen but that is baying for the moon.