I'm currently using #! on an Acer Aspire One. It doesn't come with any frills, but it boots in 20 seconds, and runs pretty fast on such a small machine.
Also, it had drivers for the wireless card out of the box. This is something that I have discovered about my netbook: Ubuntu and its derivatives have support for wireless pre-installed, but almost nothing else does. Even Trisquel had it, which surprised me because even though it is an Ubuntu derivative, it includes only free-software drivers. The only other distro I found that had wireless support pre-installed was Mandriva.
As for adding a launcher to Openbox, see Mike Saunders' article "Desktops: Build Your Own" in LXF 178.