Lately, I've been playing with my fiancee's old computer - an eMachines T2042. Ever since I got her an iBook, she hardly uses it. It's a pretty decent windows box, 2.0 ghz celeron, 40gb hard drive, dvd-rom and cdrw (separate drives), and an anemic 128 mb of RAM (32-64mb of which is allocated to video). Using XP on it was an excercise in futility at first. Fortunately, I was able to snag another 128 mb stick of pc2100 ram, and it seems much more responsive.
Though, I must admit that, eMachines has come a long long way since the early Celeron based machines I did some work on back in 98-99. It's just amazing to see eMachines reach a level of fit and finish that's pretty impressive, considering the price point. I'll admit that the shared video ram and lack of agp slots are a bit of a bummer, but what can one really expect from a "budget" pc. Since eMachines didn't actually design or make the board, I can't hold that against them (dell, gateway/emachines, compaq/hp, etc) all seem to use the same internals anyway. I wouldn't trade my mac for an eMachines, but I wouldn't begrudge them.
Does anyone else have opinions on eMachines, be it good or bad?