No, (at least not anything that is ready to use (ReactOS))
Windows binaries and especially itunes will be problematic/hit and miss.
There are alternatives and tricks, it just takes some time to learn them. PlayonLinux or WineDoors are two frontends for WINE, which should really help you setup the windows binaries and keep them each with thier own tweaks, so you only have to set and forget once for each program that requires it (and not all of them do (though a few won't work with any number of tweaks))
My suggestion is try XUbuntu on the netbook, and just re-install Vista on your other computer. (You should be able to pull the OEM key from the installation, and use that to install fresh (without cost to you) This way you can enjoy both worlds. Linux is also quite a bit easier to install from a flash drive.