As much as I'd like to see Leopard run on an Intel Mac, I can't help but dread the process of cloning a G5 to the MacBook Air (it shipped with Leopard 10.5.5, so my 10.5.1 disk won't work either). Snow Leopard is close enough anyway, and better in may ways.
Leopard actually runs really well on Intel Macs-the problem is that there aren't any programs that will run on it
That's, of course, not totally true but app selection is much better for PPC than it is for Intel.
SL is a totally different story-the UI is virtually identical to Leopard, but there are a LOT of apps that will run on it and not on Leopard. Not the least of these is several current mainstream browsers, including Firefox and Chrome.