Ubuntu Evangelist here.
Get the netbook version of ubuntu on it in place of windows.
its the shizzle.
ive got ubuntu on my regular laptop, which ground to an XP halt about 3 years ago. it was literally just too slow to handle all the flash and wizzidry on webpages for example.
i whacked ubuntu on it, and its still plenty fast enough for me 🙂
ALSO, all the software is free.
as for light weight programming.
I found Chrome unstable, but “Chromium” much much better.
not sure why
and no sure which originated from which.
both are much less demanding than IE or FF.
you MAY want to check ipod compatibility before taking the plunge if you do go for linux though.
im sure SOMEONE has done a patch to make it fit, but ive not experience of it, as i dont have an ipod, so cant comment on how good it will be, or if it will conflict with regular itunes.