i've been using an 11" air as my only development machine for a month or two. a few minor things worth mentioning:
- no backlit keyboard
- no IR interface, so no ability to use a non-bluetooth remote control
- the LCD screen is glossy, but it's just a film over the screen, not a glass/plastic sheet over the entire display. as a result, the glare isn't as bad as the macbook pro.
- because the display is very thin, the glowing apple logo behind the screen sometimes shows through on the front.