I worked like that for 8-10 months then made the switch to Vim. I've gotten so used to modal editing (not to mention window management etc.) by then, that I didn't even skip a beat.
Sublime never gave me a reason to go all the way, though :p
But it crashed constantly; also, by that time the Vim emulation was really hurting me. The dot command was anemic, tabs were interfering with splits etc.
All in all, Vim was calling me, haha.
I do all my coding (though it mainly web, which arguably might need less resources than other languages) in a medium tier pc. It's a lenovo B590 with an i3, 8GB RAM. It's not exceedingly fast but with two windows of chrome, 20 tabs each, 5 or 6 instances of PHPStorm open, and all the usual programs (email clients, dropbox, chats, etc) it still feels quite snappy.
The cost here in Austria was around 650€ or so in total, maybe less (I'm not quite sure now because I upgraded it little by little).
My question is if your plans are set around a dirt cheap machine that you "wouldn't care at all" if it gets stolen, lost or broken... Or something more in the lower middle class where you'd have to be careful not to lose one per month, but you could still run most of the stuff you'd actually need for local development.
This question arises mainly for my concern is greater about not having a working reasonable internet connectivity hence making it difficult to work over ssh, rather than the laptop getting stolen or broken.
Jesus Christ, that sounds excessive.
Vim can be run well off of a $35 Raspberry Pie if that means anything to you. That machine has 512 MB of RAM. Basically every laptop will be able to handle it just fine.
So the best device to run vim IMHO it's still a top-notch SSD-based laptop. A chromebook (intel-based to avoid other sort of issues) would be a better bet.
I work this way most of the time now, regardless of which machine I am currently using: http://blog.schwuk.com/2014/01/15/chromebook-plus-digitaloce...
Now I just have to master it.