Were it able to call itself a netbook - which it isn't, no arguments - the Lenovo S12 could well tout itself as the first, at least that I can think of, sporting a VIA Nano processor. Offered as an alternative to Atom and the forthcoming Ion-powered S12, the Nano-fitted S12 should not only prove more powerful than its Atom-based rivals but also has a $50 lower starting price tag of $499.99 (~£300).
The Nano CPU in question is the 1.3GHz ULV 2250 and comes paired with VIA's Chrome9 HC3 graphics chip. The combination should offer a tangible improvement over your garden variety Atom set-up, though at the expense of battery life. It might be worth spending that saved $50 on a second unit, therefore.
Aside from the CPU and graphics chip on offer, the Nano-powered S12 is otherwise identical to its Atom alternative. The same 12.1in screen, with a 1,280 x 800 pixel resolution is present alongside 1GB of RAM and a 160GB hard drive with Windows XP running the show.
No word on whether Lenovo will be offering Nano CPUs outside of the US; with Ion being the buzz-word of the moment when it comes to netbooks and their ilk there might not be sufficient interest to make it worth Lenovo's while. There's always eBay though, right?