I still think it is a poor buy, if you're ok waiting up to four months. The iBook G4 is a nice machine (I have one) and it would serve your needs. But, crucially, a machine that's "powerful enough" now probably isn't going to be powerful enough for too much longer, especially in the field of Mac notebooks, where we've just seen them move forward light years with the Powerbooks. Assuming the iBook will use the Core Solo chip, it's going to be at least twice as fast as the the current iBooks. That's going to be more than powerful enough for the current generation of software, and will much more futureproof than the soon to be obsolete G4.
(Yes, software will still work on the G4 for a while, but to plump so much cash into a technology that, while decent, is on its very very last legs seems a poor move to me.)
If you possibly can, wait. If you can't, then make sure you get a good deal. A refurbished model from Apple would seem an ideal purchase at this point.