Good enough for internet use and word processing, watching movies and listening to music, oh and downloading stuff from the internet etc, add a stick of 1gb ram in there and it will be decent enough to run most apps.
I run a Celeron M430 on my laptop with 1gb of ram and have never had a problem with anything, the kids even play World of Warcraft on the X1050 graphics which is pants but it plays it, lol.
I have no idea what graphics chipset is int his but that will be irrelivant to 99% of users, it does have a very nice sized 80gb hard drive which is a mega plus point for a sub £200 laptop and with it's small but perfectly viewable 13" screen it is quite portable also. Battery life is a bit naff but what do you want for £200.
All in all this is a great buy, much better than those stupid Asus EEE laptops that are being released.
Oh and it has built in wireless also which is a great plus point.
As for build quality, well you will find out when you get one as I have no idea.