One potential issue with any laptop/PC, regardless of what OS you run is that the bios could be hacked and unless you physically remove wifi and bluetooth capability you will never know if there is a keylogger etc in place. The good thing about cheap chinese phones as cold storage is that they don't generally support google play but you can side load mycelium from an sd card and disable BT and wifi.

Btw I have a really nice tosh r500 portege (2.2lbs and 12.4" screen, 128gb SSD) that I'm probably going to give away but I won't be back in the US for another month or so. It runs linux pretty well but with w7 the browser can be a little slow.

Just like the title says I'm looking to pickup an inexpensive laptop for bitcoin cold storage. Any ideas?

Lightweight, highly portable, good battery life and cheap would be a great combination.

Make this yourself: http://www.pi-wallet.com/products/pi-wallet

Edit; I'm 1/2 thinking of doing something like this: http://www.ebay.com/itm/Windows-7-Dell-Latitude-D630-Core-2-Duo-3-6-4-8GHZ-2GB-160GB-WIFI-Cheap-Laptop-/251539725292?pt=Laptops_Nov05&var=&hash=item3a90ef9bec  what do you guys think?

I'd like full windows support so I could add multibit if/when they come out with the deterministic HD wallet

Just like the title says I'm looking to pickup an inexpensive laptop for bitcoin cold storage. Any ideas?

Lightweight, highly portable, good battery life and cheap would be a great combination.

Hence "make it yourself".

A Pi works great for cold storage.  I opted for the Raspberry Pi OS and Electrum wallet.  I have a watch only copy of the wallet on my PC and signing transactions offline works great.  You just need to back up the wallet seed somewhere.