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I've got a 9300 I take around in a shoulder bag - it's not that bad (usually with several books too). I haven't really used it in class, but it works pretty much everywhere else (like right now in a study hall).
I got a 9300 for $1323, but I kind of wish I had gotten the m680. Better screen, keyboard, HD (the most important things because you interface with them). The x700 card should be good enough I'd say.
I ran into the problem between real 5.1 sound (rcas) and good quality (optical). I listen to music enough that I had to have the quality that digital audio provides, but by doing so I lost "real" 5.1 sound. It's a tough choice.
I would look at the Gateway m680 (s, x, xl) if I were you. I got the 9300 a while ago and I wish I had looked around a little more first. The fullsize keyboard would be nice. I wouldn't go with a WUXGA screen, it's just too small, even on a 17". The gateway has WSXGA and better video card...
mister x is right. pretty shitty isn't it? I went through the same thing awhile back with an Audigy2 zs on my notebook trying to use it with my receiver.