The only wow gaming you will be able to do is private servers that are using 3.3.5 or older due to the limited specs. I would go for the ION netbook but then again the cpu (yuck) and the limited ram but in the end you need to look at which one is best suited to your needs such as battery life and build quality. I hate how laptops are made these days with weak hinges ect. The AMD laptop has the edge in terms of ram as well most importantly I/O performance usually but actual performance remains to be seen.
Personally if I wanted it to be light I would go for it but first is the battery. If the other has like a 3 cell battery I wouldn't get it. If both are the same then go for the Asus, at least the gpu isn't using the system ram like a igp.