It all depends on your usage habits, too. I mainly use(d) my netbook for reading forums, Engadget, Facebook, Hacker News, and if I was really bored, Reddit. All of these things I can do easily and comfortably on my Evo. It's a lot lighter than my Aspire One, and is a lot easier to use while sitting down. Netbooks are a little awkward as laptops because they aren't wide enough to rest on your legs evenly (or at least that's my experience).
I don't regularly visit sites that require Flash, except YouTube. And even then, the YT experience on the Evo is superior to my Acer. Easier volume control, and no stuttering. There's no reason for me to watch Hulu, etc. on my netbook because I have a media center PC hooked to my HDTV.
The only place I use my netbook outside of the house is school, and I rarely take it there. I'm paying to learn; I'm not going to waste my own money by not paying attention during class. But for that same reason, the Evo wouldn't cut it in this role. The Acer lets me do what I need to do and get it over with, faster than the Evo. That means less time diverting my attention away from the class, and I cannot compromise on that point. But for my ordinary use, the Evo is a solid replacement.