Using Acer for the past 3 years (3 different models, PIII, P4, Centrino), didn't give me much problem, the only problem is that the battery will last you 15 - 20 mins after 1 year usage.
Using IBM recently, very happy with it.
First thing to consider, WEIGHT
If you travel very frequent, weight is a main concern. My advice, try to get notebook weight around 2.0kgs or lighter. Avoid to get those 2.8kgs notebook, (New Acer notebook with FC seem to be a good choice :) )
2.8kgs + notebook casing usually weight around 600-800gms, carry 3.6kgs walking on the street is not something nice, especially if you are a girl.
2nd thing to consider, WARRANTY.
If you plan to bring it to over sea study, make sure that your product carry international warranty AND the service center is some where near your campus. Don't go to buy a brand which have service center at London only but you are studying in Scotland.
3rd, Processing Power + RAM.
Centrino is the processor you shall get, try not to take other slower/older/badget processor. Centrino give you longer lasting power. For RAM, maximize it if your study or work involves lot's heavy duty/ memory hungry software, 1GB RAM shall be nice.
my 2 cents, spending more money on RAM is better than buying faster processor.
PS: Get a Centrino will enable you to surf in Startbuck or some WIFI zone. :)
Happy shopping.
PS: thteh86, all notebook having different series (just like C, E, S in Merc or 1, 3, 5, 6, 7 in BMW), Compaq notebook have few series, I was told that old Compaq EVO sucks big time, but other series is good. Mine sharing which series that you are using?