Touch screens don't make sense, at least to me. What we need are touch...keyboards and mouse controls that are highly user configurable.
This method, as shown in diagram gives the user a touch screen, touch keyboard and touch mousepad. It also has the added benefit of keeping fingerprints OFF the viewing screen AND keeps Dorito crumbs etc., out of the keyboard.
A netbook constructed in this manner gives all the benefits of a touch screen with the added ability to configure the keyboard size and mousepad size. Not everyone has the same size hands.
There would, of course have to be either a visual or audio feedback mechanism for the touch keyboard and touch mousepad, for the touch typists among us. As for the rest of the netbook....just the usual: fast, wireless, 2x fast NON-Raid hardrives and a CD/DVD burner. 4-6 USB ports, firewire, ESata and w/e else you can come up with.
...and of course it would have to stay cool in the worst temps and run 12 hours on a single charge.