You can do a lot better for your money. Okay, think of it like this... You said it's for school, you may wanna take notes with it, etc. Right? You're going to want mobility because carrying that thing around with you is gonna be like carrying your desktop with you. Put that in your bookbag and you have no room for any books.
Also... A 64 3500+? No you don't want that.... Well unless you want to be able to cook eggs on the bottom of it after surfin' the web for a half hour. That thing is gonna get really, really hot. The 64bits aren't made for mobility reasons at all... Why they put them in laptops, people still buy 'em. You may want to take a look at Centrino or if you're set on AMD then go Turion. Both are great processors and are designed to use minimal battery power and put off little heat. Oh, that's another thing, that 3500+ battery life is gonna be crap.
I'm not trying to put your hopes for that lappy down, but I'm saying there's lots more out there, much better and cheaper and I speak from experience. I'm a senior (on my last semester) and I've been through 3 laptops. First was a P4 2.0Ghz. Eggs, bacon, I could've cooked anything on it. Next was a Centrino 1.5Ghz. It was nice but the size, 15.4", too big for me. I hated carrying it around. Now I'm on a Centrino 1.8Ghz with 80GB HDD, 1GB RAM and a 12" monitor... It's a Dell D400. This thing rocks! It has the power I need and the mobility I want since it's so small all for $750 shipped on ebay. And there's plenty of other good deals on there too. I would look into it.
Any questions shoot me a PM, good luck on college.