i have been wanting one for some time now.

only requirements:

must work

have ATLEAST a 10 gb hard drive

has charger and battery(that holds a charge)

atleast 256mb ram

internet capable(duh)

and when i say cheap, i mean like,$100. (flexible)
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hey, save up another $200 and get an acer aspire one. they're great. you're not going to get much more than a piece of junk with $100.
within you lay everything
every key
every secret

untouched and in plain sight
Im got go with staticoverdub on this one, you would get nothing less then a piece of crap that worked for crap for that much.
I sold an old laptop thats screen was broken for 85$ and this thing was a brick, so yeah save a little, it will be worth it to have something useable and reliable not a piece of junk that will be a better paper weight, then a computer.

save up and get yourself something nice, man your worth it.
Nothing better then buying nice stuff for yourself I always say =]]

$300 from newegg. good stuff. ultraportable, full featured computer. if you dont like linux (i don't mind it at all) there's an XP version for $30 more. Upgrade to a 7 hour battery on ebay for $80 if you ever feel like it. The standard battery lasts about 2.5. if you spend $100 on a laptop it will be a laptop that is so slow or heavy that it's a chore to use and thus a waste of money.

my second choice on such a low budget would be:

from www.ibuypower.com

$399 after a $200 mail in rebate. only if you MUST have a 15 inch screen. otherwise I would go with the acer. do a little bit of research on it first. but dont dump $100 into something that should be in the trash.
within you lay everything
every key
every secret

untouched and in plain sight