I really liked the 12" MacBook (although my all time favourite computer was the 12" PowerBook G4 - chunky by today's standards but I just loved it).
I saw a review of the MacBook Neo where the reviewer was yearning after the 12" - but suggested that Apple has made UI elements so big with such ridiculous spacing and border radius that it would be almost unusable at anything less than 13".
Which would not surprise me in the least - I struggle with my 16" MBP and this crappy UI "framework".