(MONEY Magazine) – Ever since Tandy introduced the first laptop in 1983--the TRS-80 model 100, with no hard drive and only a 24K sliver of RAM, barely enough for a large text file or small photo today--the portable PC has been viewed as convenient but inadequate or impractical. Given what the machines have cost, the characterization was accurate. As desktop PC prices fell steadily, to below $1,000, comparable laptops hovered around $5,000. As a result, they were almost exclusively the realm of corporate jet-setters and the Silicon Valley hard core.

Not anymore. Today, buyers can easily find laptops with enough memory and hard-drive space to make most desktop users envious. "Consumers considering a desktop can get a laptop that offers the same functionality for under $1,500," says Gerry Purdy, president and chief executive of Mobile Insights in Mountain View, Calif. "And it's more powerful."

With high-resolution liquid crystal displays, digital video drives and fast internal modems as standard features on many models, it's safe to say laptops aren't just for laps anymore. In fact, Purdy says 60% of those buying a laptop today plan to use it as their primary machine. "The screens are so good," says Christopher Barr, laptop aficionado and editor-in-chief of CNET Online, a leading provider of computer news and reviews, "that instead of having this monstrous desktop, you can use a sleek laptop."

The choices have increased as well. "It used to be there were only three or four good machines," says Nathan Garcia, co-host of the nationally syndicated radio show, On Computers. "That's no longer the case." Shoppers can now go to a local computer store and see row after row of these souped-up, lightweight wonders, which leads to another dilemma: how to choose the right one.

Here's what you should look for: an active matrix display (sometimes referred to in ad copy as a TFT screen) and at least 32MB of RAM. If you plan to run Windows 98 or NT, 64MB is preferable. The machine's hard drive should be a minimum of 4GB. You may not think you'll need that much, but once you start loading programs or games and storing Web pages, you'll be surprised how quickly space is gobbled up. And it should have a 56kbps V.90 internal modem, which is now standard on many machines.

Weight is another important consideration if you plan to travel with the laptop. A six- or seven-pound machine quickly becomes a nine- or 10-pound dumbbell when you add a battery, an AC plug and a disk or CD-ROM drive. Barr recommends that to cut down on excess tonnage, commuters buy one on which the drives are add-ons that can be left at home or at the office.

Buyers should also make sure primary and secondary batteries are the same. Changing them is easier, and you'll have a better idea of how much time you have to work. Also of note: Lithium-ion batteries typically last 50% longer than comparable batteries made of nickel metal hydride.

Finally, business users will want to make sure the model they choose comes with bundled software, like Microsoft Office. Buying that program on your own could cost an extra $499.

To make your decision easier, we culled reviews, talked to experts and tested the laptops ourselves to select what we believe are the best buys in each of the following five categories: basic user, home-to-office commuter, Internet surfer, desktop killer and executive overachiever. All of our selections include internal 56kbps V.90 modems and lithium-ion batteries. The table (below left) compares many of their features at a glance; you may be able to do better than the list price by shopping around on Websites or haggling with your local PC store.

Basic user

SHARP ACTIUS 100 This ultralight notebook weighs in at only three pounds and is perfect for the on-the-go user who primarily answers e-mail or surfs the Internet. There is a trade-off for the light weight, however: The Actius' compact keyboard is ill-suited to heavy-duty typing. Otherwise, this PC World Best of Show laptop is a great little machine that includes a disk drive and an optional CD-ROM as add-ons.

Home-to-office commuter

GATEWAY SOLO 3100XL (FireAnt) If you're looking for a workhorse that also has a playful side, this is your machine. At a slight 5.2 pounds and $2,999, it won't break your back or your bank account. The model we tested featured a DVD player and fully bundled software package, including MS Office 97. The FireAnt also allows you to use the CD-ROM drive and the disk drive at the same time, a convenient feature for work in the office.

Internet surfer

APPLE MACINTOSH POWERBOOK G3 266 This stylish Jaguar among workhorse Mercedes has plenty of speed and a line that would do a European automaker proud. A surfer's dream, this machine's crystal-clear, 14.1-inch display makes it perfect for viewing or designing Web pages. Its Internet Setup Assistant launches you into cyberspace almost immediately. And Sherlock, a hot new feature of the Mac OS, allows users to search their hard drive or the Net using only keywords. Long-time Mac fans will appreciate its greater speed and power; newcomers to Apple will relish its vaunted ease of use. The PowerBook was one of the largest machines we tested, and at nearly eight pounds it's a bit heavy. But we think it will be worth its weight in increased productivity.

Desktop killer

DELL INSPIRON 7000 This dream machine features a huge, 15-inch display that's so crisp, it beats most home monitors. It's one of a new wave of do-everything laptops that radio host Garcia says are "on the verge of replacing desktops." Add a home base to the Inspiron, and you eliminate the need to plug and unplug each peripheral before you take it on the road. Upon your return, just insert the 7000 into its docking station, roll up your sleeves and get to work.

Executive overachiever

TOSHIBA TECRA 8000 Picture Mel Gibson on the plains of Australia. If he were a true road warrior, he'd be packing the Toshiba Tecra 8000. Winner of PC Magazine's Technical Excellence Award, the Tecra can be built to your specifications from more than 5,800 configurations that include various processors, hard-drive sizes, even operating systems. It's a bit hefty for the road, but if you need a machine that can handle everything, the 8000 is the perfect choice.

Travel advisories

Now that you've decided to go the notebook route, there are a few other factors to consider. For instance, if you travel a great deal with your laptop in tow, you should consider buying a service plan to cover any damage from drops. According to International Data Corp., the boom in notebook-PC sales has meant repair headaches for both medium-size and large organizations, which spent over $700 million in repair and replacement costs on laptops last year.

Even worse, Safeware Insurance in Columbus, Ohio reported that in 1997 more than 300,000 laptops were stolen from companies it insured, at a cost of $1 billion. While most thefts occur when portables are left on top of desks in the office, mobility has its own hazards. Two years ago, the FAA issued a warning for laptop travelers about a scam in which one so-called flier breezes through a metal detector while his partner, directly behind him, sets off the alarm. While he's emptying his pockets, his friend is waiting for your computer to come through the Xray machine. The solution: If you're packing a laptop, make sure no one is in front of you as you enter the metal detector.

Will laptops follow the lead of their bulkier, immobile brethren and fall below $1,000? Well, the price gap is closing, albeit slowly. And although it's unlikely that you'll see $499 laptops any time soon, the low-cost models are not that far off. After all, the average price has dropped 26%, from $2,720 in 1997 to $2,000 this year, according to Dataquest.

"It depends on the chipmakers," says CNET Online's Barr, who predicts all the major players will release $1,000 to $1,500 laptops over the next few months. Rumor has it that even Mac users--long stymied by high prices--can expect Steve Jobs to introduce a consumer laptop for $1,300 or less this year. At that price, it may not be long before there's a laptop on every desk and a desktop in every attic.