The MacBook would be more than enough for your needs, and I think you would be very happy with it.
However, check with your school to see what productivity suites they use/require.
My instructors this semester required that I use Office 2007. While I don't think, so far, that there would have been compatibility issues, others have reported that there were some with OpenOffice.
Also, I was required to use MS Visual C# last semester, and am using MS Office Visio 2007 this semester.
I am running Windows XP SP3 as a VM using Parallels, and I am very happy with the speed and performance.
Hope this helps. 🙂