Laptop for $400-$500?

Hey all,
I am looking to purchase an inexpensive laptop this summer to be able to have for school this next year. I already have a desktop that I upgrade periodically and use for gaming, so I don't need anything for that.

Ideally, I am looking for some type of Core 2 Processor, a 60-80 gig 7200 rpm HDD, a dvd burner, at least 1 gig of ram (with at least 2 gigs possible), and wireless capability. A decent screen would be nice and it would be nice if it is small enough to work well in a backpack. I don't need any software for it (I have windows, office, everything else I need already).

Now, if it isn't obvious from all those desires and the cost goal - I have no idea what I am doing in the realm of notebooks. I am a desktop guy through and through, but need an efficient laptop for doing my work on. It needs to be fast enough to run things like pro-E without any problems.

Is any of this even possible for somewhere around the $500 mark? If not, how much would I be able to get for that much money? How much money would a machine like this cost?

Thanks for any help on this.

Do you think it would ultimately be cheaper to just get a cheap-o drive in the laptop and then get a nice-ish external hard drive?