I am still using the predecessor model X41 tablet with some 1.6 GHz and 512 RAM.
The X series are "ultraportable", have an ABS plastic or Magnesium cover as opposed to the cheap ThinkPads with less sturdy covers.
The keyboard layout is optimal for me, especially with PageUp PageDown near the arrows, which is a HUGE point plus vs. programming on a Mac.
Never ran into problems with cooling, the management software can be set up flexibly to lower the core frequency, or run the fan full speed. Of course with hot summer on a direct sun this is a no go.
The tablet is a nice feature, it is pressure sensitive = i.e. you can draw thick and thin lines by varying pressure or tilt. This is not standard with cheaper models.
The initial cost is high for a new device. Therefore I recommend investing into a used X60 or X61 with plenty of RAM. There are even some available starting from 600$ (09/2011).
OS choice also does have a significant impact on the overall speed (starting, running programs, latency, disk writes, etc.). Excellent support of Linux with a community of hackers and detailed info about the hardware can be found on ThinkWiki
X series Lenovo laptops are built to last, being spilled on, dropped, misused and carried around. The keywords here are portability and durability.