The one thing about the Envy that does interest me is the slice battery. It's an extended runtime battery that clips onto the entire bottom of the machine, and blends into the form factor quite well.

I think the Envy 13 was meant to be more of an Air competitor, though it is .8 pounds heavier and ticker overall. And the Air has an entry level price at $300 lower, though that means a slower CPU then the Envy.

Lack of optical drive in the Air hasn't bothered me yet, and I doubt it would bother most people looking at the Envy as a second system to either a more powerful laptop, or their desktop. As for ethernet, the only time I use it is at work due to lack of wireless there. At home, I have a Airport Express N plugged in near where I use the Air, providing slightly more then 100mbit practical bandwidth. Since the included USB dongle only does 10/100, it's the same speed either way.