The Fujitsu is a beautiful machine, and there is NONE like it, IF you want a real SMALL and FULL function machine. Once you go into a 12 inch screen form factor, then there are plenty of much cheaper choices (hence the comparision to a 12.1 TFT iBook is a false comparision). Watching DVD on the Fujitsu is fine, as almost all portable DVD players are under 7" diagnoal.
I have looked at the Futjitsu and played with it, but for my purpose, I just could not bring myself to spend the extra money for the smaller form factor.
I remember in a CNET review when the first 15" laptop was released (it may have been a Sony), the reviewer said, "I hope you never have to fly coach with this thing"
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It sounded like for your purpose, you may not need such a slick and light machine. IBM's good, Apple's fine (the cost of software will kill you, but that's another story). I suggest something in the 13-14" screen size (reasonable DVD) may be 4.5lb (or less) full travel weight.