I've got an Acer Aspire 1502, and its an alright notebook. It may not look like much, but its really fast and the screen is beautiful.
Some of the things that I had to setup manually when I installed Fedora Core
2:
- Sound. Needed to add a few things to the /etc/modprobe.conf so that sound wouldn't be crackling. Not a big deal, but still annoying .
- ATI. The default install of Fedora uses the VESA driver. A quick change to one line in xorg.conf made it use the default Radeon driver. It's not fabulous, but it serves my needs.
- Winmodem. This doesn't work at all under x86-64, but does work on the x86 version with a little tweaking.
- Wireless. Haven't tried. Buy me a wireless hub, and I'll give it a whirl

- CPU Speed. The CPU runs at maximum speed, and so drains the battery quite quickly (about 2+ hours use, instead of 3). No idea how you configure it and all efforts have met with failure.
- Builtin SD card reader is unused. No idea how to configure it, and have had no need to.
But its a good notebook, and well worth the money. Upgrade the harddisk to a 7200RPM model and get 1 GB of memory, and you've got yourself one *sweet* Linux laptop.