Ahhh.. you might want to do some reading on using EeePC with 9.10. For the 701 you have to use a custom kernel to get things working well. I'm not fully clear if this is an ASUS or Linux issue but it exists non the less. The ubuntu forums have quite a bit of info on this.http://ubuntuforums.org/
As far as the performance goes did you install install or create a live stick using unetbootin, if the later then it will be slow. First thing to do though is have a search on the ubuntu forums and take it from there. The performance might well be a symptom of the other issues.
Give us a shout if you need more pointers or help.
Keep the faith, it's worth the effort