If you're looking for a budget-priced UMPC, you might want to check out the latest offering from Data Evolution Corp. They have released their first UMPC named the Cathena CX.
The small device has a 7-inch WVGA passive matrix touchscreen with a QWERTY keyboard. It is powered by an AMD Geode LX800 500MHz processor and 512 MB of RAM (upgradeable to 1GB). A 40-100GB should be sufficient to store anything you need, and integrated 802.11b/g and Bluetooth 2.0 will keep you connected.
You'll get around 5 hours of battery life and your choice of Windows XP Pro, Home or Windows XP Embedded. Prices start at $799.
Low-cost UMPC sports swiveling display [via linuxdevices]