Unfortunately in flight WiFi only has regulatory clearance over the US, so this is a long way away.
It still won't make the flight bearable, though, because as soon as the person in front of you reclines, you can't open your laptop anymore. This has happened to me more than once. (Now I can book exit rows, so this isn't a problem for me, but not everyone is in that position; especially on international flights.)
Fortunately, some airlines are beginning to install "shell" seats in the economy section, so people can't recline into your space anymore. I think it's only CX right now, though. Here's a link:
AA has power outlets on all of their domestic mainline (not AE) flights. Not every seat has an outlet, so look at seatguru before you pick a seat, but they're not hard to get.
If I'm traveling for work (i.e. not a vacation), being able to do billable work while in the air means I'm not losing tons of $ in addition to suffering through a coach flight. Obviously there's some work that can be done off-line, but having net access would improve my ability to do billable work while in transit.
If you're going on vacation, don't bring your laptop:)
Seriously, this is awesome, but I think I'll take a power outlet over wifi.