Most ultra-portable laptops and netbooks will NOT have a drive built in. If you need the drive, expect to spend another $40 or so for an external one.
At the $200 price, there isn't any new netbook which I'd recommend.
If your storage needs are modest, then my suggestion would be to use the exclusive 25% off coupon from
here and get an off-lease Dell Latitude D420 or D430 with a Core 2 processor. About 3 pounds, 12.1" widescreen, a keyboard with normal key spacing (very important if you touch type), and as these were target to business travelers, its construction is better than many of the "consumer" models.
Aim for a configuration with 2gb ram (or prepare to spend an extra $20 to upgrade from 1gb), and the largest hard drive you feel you can live with. There are a some that have Windows XP (if you despise Windows Vista) and some do include the external drive. These computers use a 1.8" hard drive (think the iPod Classic's hard drive) and are not as readily upgradable as those which use 2.5" hard drives. They'll have a 100-day warranty (extended warranty available from SquareTrade).