We knew this thing wasn't going to be a speed demon and the numbers are proving it. Gizmodo ran a series of test on it. Boot time is 50% slower than a MacBook Pro and around 10% slower than the comparably footprinted MacBook. This is most likely due to the 4200 RPM 1.8 inch hard drive. When the SSD MacBook Air's come out, we expect much better results.
In other tests the MacBook Air faired better and even managed to prove itself the king of the MP3 compressing:
A few notes on testing from Gizmodo
The Computers:
• The MacBook Air has a 1.6 GHz custom Intel processor, 2 GB 667 MHz DDR2 RAM, and an 80