Well first off I'd use this unit for its basic PDA functions. I'm a student, but also very forgetful persons at time. I would use the ASUS 716 to keep track of assignments and alert me when its time to get to class and where to go(not to mention storing a map of campus:-D). Plus with the 12 hours of battery time, I wouldn't have to worry about it going dead and not alerting me to something important.
Next I would use it in conjunction with my digital camera, using it in the field to transfer images from its expensive SD cards to to more inexpensive Compact Flash cards. I could also use it as a portable album to show my friends my favorite pics.
Music would probably be my next use for the 716. I have a huge collection of MP3s of obscure natures(Jrock, Jpop, Anime & Game music) and would love to be able to alway have some with me to convert others to the joys of japanese & and kick @$$ 80's New Wave(Tears for Fears!!). I could also use the Wi-Fi connection and connect the 716 to some of my favorite streaming radio stations(Yes I did steal this idea from your article)
Next comes gaming!!! I can play SNES games on it!!!! I'd load a card with all my old favorites(Chrono Trigger, Secret of Mana, Legend of Zelda, Earthbound, Breath of Fire Super Ghouls and Ghosts, to name a few...) Plus I'm getting into playing Go and there are several great programs out there including those to record games for study later ^_^
I would also us it with a GPS card or better yet one of those Bluetooth GPS receivers. That way I could go on a road trip and not break the first law of guydom... Thou shall ask for directions from no man!
Surfing the internet would be another great use for the 716. I go to New York City all the time and could take advantage of the myriad of hotspots in the city.
And finally the biggest use I would have for the 716... To look cool

I'm still not part of the PDA revolution. If won the ASUS, it would be my first PDA and I would proudly desplay it and gloat to my friends with their Palm PDAs.