I've got the EEE 701 (1st gen EEE) - runs classics quite well (i.e. Star Wars, Galaga, Pac Man etc) but it's by no means speedy. You can play OutRun perhaps, if you don't mind a bit of frame skip.
If it's more recent stuff then it's likely to be disappointing. The newer EEE (901) may well be better as it has the Atom processor, but I'm not sure how much by.
As a base for a small arcade cab for classics, not bad, but don't expect 'proper' PC performance.
It's pretty good for email and internet though - for example I'm posting this message from it at the moment

Utterly ultra portable too!
Think of it as a P3 600 perhaps, I think thats about where I'd put it performance wise.
I'm basing this on mine running XP BTW - Linux got cleared off as I'm not overly familiar with it, though I don't think it makes much of a difference performance wise.
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S0L
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