Well it depends what you mean by alright. A 700mhz ARM11 is less than a quarter as fast as the 1st generation atom N270 and it is pretty much the oldest and slowest mobile processor still in widespread use, in SMP it is inefficient, it can't handle general purpose computing tasks and these SOCs hide this with their beefy GPUs which offload HD video processing.
While these little ARM boards are cool toys for hacking projects or front ends for video streaming they are hopeless as general purpose machines. I hope to make an XBMC box out of one at some point, but not even the quad core A9 boards can handle a DVB-T2 tuner. I agree that the price is low, but for half that you could buy a first gen Atom NetBook or NetTop, gut it and have a far more capable (if more power hungry) machine.