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Chromebooks are good enough for browsing the web and playing flash games. But for programming you would need to install Linux. The HDD space on those things is pretty small (because it's solid state). So I am not sure how good it would be for programming. You can find some pretty cheap HP laptops that are decent.
The acer C7 has a 320 GB HDD at 5400 RPMs but you can change it out I'm pretty sure.
Well, you already know that a windows or linux laptop will definitely work, and there are plenty with the same specs at that price range. If you were thinking the chromebook pixel (and sweet god I hope you weren't), then there's always a macbook, which will definitely work and be cheaper. So I literally see no reason to even think about the chromebook in this case, unless you just had intellectual curiosity.
Well I haven't really found laptops at the 200 range besides refurbs, opened boxes, off-lease. And even then their specs aren't too much better than the Acer C7.