I have a 4 1/2 yr old iBook - which I absolutely love love love!
I would love to have the mac air - but only because of the light weight. I have a back/shoulder problem and I don't like to/can't carry heavy things. So the mac air is perfect for me.
I'll probably hold out though and wait till the mac air has all the bugs worked out and is faster - I'm definitely not into slower!
That means that I will probably buy a new macbook, before the mac air. But I can see a mac air in my future!