If you're going to get a notebook, get a proper one. Personally, I find that it's convenient to carry a notebook around uni in general, even though I don't go to lectures because I carry all my books, files, music and just basically everything on it, so wherever you are, in the library, on the bus/train, or whatever, it's like having your personal office with you.
I also have the Desktop at home + Laptop setup, which is actually quite good, but I still got a quality laptop instead of a cheap netbook which is a pain to use. I agree with Lex, if you're want something cheap and don't want to spend much, get an iPad or another tablet. Kogan has the Agora, a 10 inch Android tablet going for $179, which is a reasonably good device, also good to look at is Samsung's Galaxy Tab 2 which is currently cheaper than the iPad (can get it on Kogan).
If you're willing to spend though, I'd suggest getting a previous generation ultrabook, you can pick up some good Sandy Bridge bargains at clearance prices at stores like MSY.
The ACER Hummingbird S3-951 2364G34iss is $599 at MSY, and it has a proper Intel Core i3 processor, which is good enough for day-to-day use at uni, and is far better than any Atom-based netbook.
Just Ctrl-F "S3-951 2364G34iss" in this document and you'll find it
http://www.msy.com.au/Parts/notebook.pdf