x2 on the jump drive. I had my entire Eastern Illinois University curriculum on a one gig jump drive. the one thing that I do recommend is that you back it up to your desktop regularly, and keep a continuously updated copy of it on another jumpdrive somewhere easy to get to. nothing would suck worse than losing your jump drive or data on it if it gets nuked. I lucked out and did not have any of those issues, but after forgetting it in the computer lab once, (got it back, someone was good enough to turn it in) I made damn sure it was backed up at home and I had a spare with the info on it.
AS for laptops, when I graduated EIU, they were looking at having mandatory laptops for all students in the future. so with that in mind, you want to get one that will survive four years of hauling to all of your classes every day. probably will mean a more expensive one. Stay away from HP, they are the worst reliable makes. A study on laptops was done and HP was dead last, with 25 percent of their machines dead within 2 years. Asus was the best, with only 11 or 12 percent dead. Dell was middle of the road. I will see if I can find the link for you.
Dell is better than HP for the reasons Allan D mentioned: easier restores, better customer service.
Just some thoughts.
AJ