I was going to post an update about how my experiment is going but I did a write up on
Daniel's Yoga Book article and it's just easier to copy and paste what I wrote there.
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It took some getting used to, but it's really not that bad. You'd definitely want to install either uBlock Origin or Ghostery (I'm seeing faster page loads with Ghostery). But for modest use, I'm getting by just fine. It comes pre-loaded with the Office Mobile apps, and all those are fast to open. You could install full Office. I've done it before on an Atom 3745 with no problems, but there's hardly any reason to since the mobile versions work great.
I have Photoshop Elements 11 installed as well as Audacity. Elements loads and runs surprisingly well. You'll definitely get bogged down if you're using large images with many layers, or processor heavy affects, but basic editing is still snappy. The biggest problem is Edge. To be clear, it's NOT terrible. I can use 5-6 tabs without issue. But there are also times when I'm using two tabs and Edge starts to struggle (which probably speaks more about Edge than anything else). However, Edge is still the most efficient browser to use on Atom tablets.
Overall, using the Yoga Book as both a tablet and desktop PC is going remarkably well. Atom CPUs (Cherry Trail) are so low on the totem poll that most people focus on what they can't do, however, they are still capable of a lot.
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Edit 1/3/17
Finally broke down and returned to my desktop, partially out of necessity as I just bought Fallout 4 and clearly can't play it on my Yoga Book. I also needed my trusty, old DVD drive more than I thought I would, lol.
Overall, it was a very positive experience. Using it as a tablet was, of course, fine. Hooking it up to a second monitor was a mixed bag. It does struggle a little to power 2 monitors, or often times just 1 external monitor. But it was a compromise that didn't burden me in day-to-day use. Certain things just took a few seconds longer or didn't look as smooth as when I just used it as a tablet (for example, resizing a window).
Edge, while generally fine, was the biggest hurdle. Sometimes tabs would crash and switching between tabs was noticeably slower (especially if another tab was currently loading). And even though my mouse has a backwards/forwards, it can't beat gesture support in Vivaldi.
Still, even in using an external monitor, apps still worked fine. I didn't have much problem using Photoshop Elements, though Audacity was slower than expected. (and I didn't use Audacity for anything other than to test it out).
In a pinch, I could handle using my Yoga Book as my "desktop." But an actual desktop is still a far superior option.