Unless this has a full keyboard, intel processors, multitouch glass trackpad, and costs less than $1000, it will fail just as much as the current MBA. Good luck getting all that done at 11.6". There was nothing wrong with 13.3".
The current MBA is a nice machine, but the price is all wrong. By pricing it above both 13" MB and MBP, Apple gives very little reason to pay for the MBA. Yes, it is lighter, but a lot of things had to be sacrificed to achieve that form factor. And that is simply not reflected in the price. I shouldn't have to pay more for fewer ports, cheaper processors, less RAM, slower hard drives, limited upgradeability, and no DVD drive.