I worked about a year on a laptop and also used laptop at home a little. It was a horrifying experience, neck and back strain was really big because of terrible posture behind a laptop - low placed screen, too close screen to keyboard and yourself, narrow and unergonomic keyboard, small screen estate.
I should also point out that on the train, I have a table where I sit (not in my lap, that sucks). I also try to use a stand-up desk more for all-day laptop usage.
I'm now down to one monitor and I like it that way. Not that it's saved me in hardware costs much; instead of number and size of monitors, I'm now focused on buying laptops that have a high pixel density. The higher the better. Sadly, there hasn't been a lot of movement on that front in most laptops (I'm looking at you, Lenovo). I'll probably stick with a MBP until other companies catch up.
PS: Before somebody berates me about ergonomics, I use an external keyboard and mouse and I have a small stand that raises the screen to eye height. That's more of a personal preference, though. For about two years, I did all of my programming with a 17" macbook pro sitting on my lap in an ikea chair in a graduate student lounge without any ill effects. But then again, I lift. ;)
I found this went away for me if I balanced it out, such that I was looking right as often as I looked left.
For a three monitor layout, my "primary" monitor should be front and center, and the secondary monitors should be on either side. For two, the divide should be front and center. Beyond three, I grow vertically rather than horizontally. With this, I have no problem.
That strikes me as an admission that there IS a productivity gain by having more than one monitor though, physiological issues aside.
The problem for me was neck and shoulder strain. Constantly turning to the left or right always gave me problems. My posture degraded as I naturally moved farther back from the keyboard to take things in.
I dropped the second monitor a few years ago. My physical problems have gone away. I enjoy looking straight ahead now, and as others have mentioned, using a laptop on the train to code no longer feels limiting.