Ideapad: pros over other…
More RAM is helpful, but 8GB is not necessary unless you're running physics simulations, doing huge photoshop projects or gaming. You can't really use more than 4GB unless you're doing one of those things.
Backlit keyboard. This is really nice for when you're typing in the dark.
Bigger hard drive. This means it will last longer before you have to delete a bunch of stuff from your hard drive.
Partial solid-state drive. If they installed the operating system intelligently, then you're going to have really quick boot-up times compared to the other one.
Battery life. Intel Ivy Bridge processors get equal performance to the last generation processors, but for half the power requirements. Comparing the clock speed and knowing that clock-for-clock Intel does better on power than AMD, that Ideapad is going to get you significantly better battery life.
Intel processors are quicker in general. That i5 (the mid-range for Intel) with a lower clock speed will probably give you the same processing power as that A8 (the high end for AMD) for everything but graphics.
Intel is known for reliability. Most people I know with AMD systems either have hardware problems every few years or just upgrade their computers often enough that they don't start running into problems. Meanwhile, I still have a decade-old Pentium computer that still runs pretty well, although nowhere near as fast as my relatively new i5 system or my new i7 laptop.
Upsides to the HP Sleekbook:
You're definitely not being oversold. All the specifications are good for what's important -- exactly the amount of RAM I would recommend, good on the graphics, good processor, hard drive has a decent size (larger than you'll use while you're in college unless you're a mega-pirate or a super shutter bug who hasn't heard of file compression or shrinking pictures, but not so much larger that you're paying too much for it). If I were building my own, my hardware specs wouldn't be much different.
If you decide to do some gaming, this one will handle them better than the IdeaPad thanks to its graphics card.
Lower cost. In all the ways that are important to you, these two laptops are close enough to identical that you probably won't care until you're out of college. Getting the cheaper one will make your wallet happy without making you feel like you settled for less.
However… Given what you're looking for, I have a recommendation or two of my own:
http://www.newegg.com/...6834230909
Very close to the sleekbook, but a little lower clock speed, a little bigger hard drive, not thin and light, but a lot lower price.
http://www.newegg.com/...6834230873
Another Intel i5. Lower price than the sleekbook. Not thin and light, battery life isn't as good, no solid-state drive for quick boot-up, but clock speed is significantly higher than the other Intel one and as a result it will feel faster.
