I still have, and use, my 2011 MBA 11" with 2 Gb of RAM. Originally had the 64 Gb SSD Card, but replaced with a 240 Gb OWC Card within the first few months.
My battery life is still good. But, for me it is a living room surfer. It almost never leaves the house. So I always have the power cable on the floor next to my chair.
I do have the same lag issues that you have with YouTube, or any flash based content. Once it starts lagging the fan spins up to full speed and it gets very hot on the bottom.
I am currently running Maverick. It seems to me that the lag issues got worse each time I upgraded the OS. So I never upgraded to Yosemite.
Now I am starting to have screen flickering issues. The back light goes dim to bright, back and forth. Not all of the time, just occasionally.
I am contemplating upgrading to a new 13" MBA. Trying to decide if I want to save a few dollars and get the 2014 on a clearance price, or go ahead and get the 2015.