Yes, using a 2011 256G MBA as a full mobile suite.
MacOS half of disk
Xcode
VirtualBox with a bunch of linux VMs and Win8 consumer preview
BootCamp half of disk with Windows 7
Java and Eclipse for Android
Visual Studio with SDK for Windows phone
Bunch of other software like Paint.net, Selenium, and Robotium
20-ish Apress Ebooks on mobile. The cyber Monday (right after Black Friday) price got down to $10.50 each in bulk.
It's handled everything thrown at it so far. I love my MBA.
Thanks, you're full developer.