The position of the Fn key IS a bit annoying, but I've mostly gotten used to it now. Also (and I know some people don't have this problem as much as me) mine does get rather "warm", I won't say hot, but especially on the left side where the HD is, it would not be comfortable to use on my lap. (Which I never do anyways.) I have a Samsung 60gig HD in mine, possibly another brand will not get as warm. According to MobMeter the HD is sitting at 50C right now under light internet usage. With the LapCool3 that I got for $25CDN the HD temperature stays closer to 40C.
But I have to say that I love my Z70V, I do highly recommend it.
For non hardcore gaming it's great (if you're superhardcore you may want to wait for the refresh or get the Z71V, but its not as nice) and its size/weight is fine for carrying around once in awhile. IMHO its not small enough to carry around constantly or to take to class to take notes etc.