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The MBA (now, was that an accidental acronym?) has no internal CD/DVD drive, no built in Ethernet, and no FireWire target disk mode.
So, this ultraportable cannot be docked to a bigger machine, nor can a bigger machine be docked to it, except over a LAN, wireless or otherwise.
The whole 'sharing an installer DVD over the wireless LAN' is going to be slower than downloading Hi-def movies, and kludgy as hell.
You cannot remove the battery yourself, so you can't swap out the batteries on a long flight or other trip.
In short, the MBA will be a vanity product. In years gone by, this would have doomed it, but given Apple's fashion cachet, I am sure they will sell every one they can manufacture.