1. Dothan 1.7Ghz or faster (don't really need 2.4 GHz)
2. Fast full DX9 compliant graphics with 256Mb mem (for games now and 3 years from now)
3. 13-14" high widescreen display with low response time (grey-to-grey transition. I don't want too big a screen, because I lose battery longevity and portability. Also, they have worse response times and lower brightness)
4. Optical DL burner that burns good quality dvd+r and dvd-r: DL with both (most laptop burners now make totally crap burns that are useless for any kind of archival use)
5. Azalia audio or another competing solution, with a min. 100+ dBA S/N ratio, flat frequency response and spdif digital out (preferably with support for Direct3D, EAX, etc)
6. 80 GB HD (speed is not of the essence for me, but size, battery conservation and noise are)
7. 1 GB RAM PC3200 (enough, 2 GB is still too expensive. Most Pentium M laptops still use PC2100 or 2700, just getting to 400 DDR would be enough bandwidth for most jobs)
8. Almost totally silent in normal surfing/word/e-mail use. Fans only kick in with games. Silences is a luxury that I could easily pay another $1000 extra
9. 5+ hours battery in light use (not gaming or cpu intensive calculation)
10. small and light, not big and draggable (the exact weight/size is debatable. Still, I don't consider any of the Pentium 4/4-M laptops with a decent enough battery to be portable, they are DTR).
11. Full Aluminium or other metal case, with sleek lines and no extra buttons, flashy colours or plastic bits added to ruin the impression.
12. Build quality that is beyond the current Toshibas, Dells, Compaqs, Acers and Fujitsus. Hinges that can take a beating. Cover that protects the screen. No dead pixels. No screeching, bending, plastic parts falling off, etc.
13. Relatively cold as in doesn't give me 3rd degree burns when I use it on my lap without a protective suit (use of esoteric cooling is allowed, as long as it's nice on battery and low on noise)
I'm willing to give up on the cpu/graphics speed, if it means more battery power, better portability, less noise and heat.
I wish somebody would build it, but I guess only people interested in a high quality stylish, portable, silent and powerful enough laptop have noticed there is no offering and are happy playing with their Powerbooks