I've briefly tried working on a small screen with high DPI and it really hurt my eyes. Maybe I'm getting old-man's eyes. ;)
I hadn't anticipated this but since every resolution looks excellent on a retina display, I'm switching quite often for different tasks.
If someone read that as implying that my netbook was slow, therefore a MacBook Air would be too, I have to question their reading comprehension skills.
(I mostly do Cocoa dev in Xcode these days.)
I also have a monitor though of course. I would go crazy alt+tabbing. Even now the width of my display can't handle my open tabs in Sublime.
edit: though... now that I sit here and realize what I'm saying, 80% of the time I code, I do it on the MBA. The DPI is such that I prefer the font when coding. This will change when I get my new display though. The laptop will sit on a dock and be my doc-dock or my stream a movie while I work-dock.