I have an AMD E350-based X120e, too. The CPU, as Thrackerzod noted, is meant to compete with Intel Atom CPU's of that era, however, I think it's IGP (AMD Radeon HD 6310?) is faster than Intel's HD Graphics IGPs from two years ago.
My X120e works great for the uses for which I intended it, which are light office productivity applications (Microsoft Office Word, PowerPoint, Excel) and some casual web browsing (Wikipedia, YouTube, etc.). Basically, my use case for the X120e is as an extremely portable writing station for when I want to work off in a corner some place and be left alone.
Now, I have made a few upgrades to my X120e beyond what it shipped with, and that may make a difference. First off, my X120e originally shipped with one 4GB SO-DIMM , which I promptly removed and replaced with 16GB (2×8GB) of RAM, purchased as part of a Black Friday sale. The second thing I did was replace the hard disk drive with a SSD. Between the RAM and SSD, probably the only really limiting factor left is the CPU, itself.
As far as software goes, I originally just used the factory install of Microsoft Windows 7 Pro x64 and disabled any pre-loaded software that I did not want to use. I ran Lenovo's ThinkVantage System Update utility to get the system all up-to-date, followed by Microsoft Update and visits to AMD's site to download the latest chipset and video drivers. When Windows 8.0 came out, I did a clean install and repeated the same steps as I did for Windows 7 (minus disabling OEM pre-loaded software--there wasn't any) and the system still works fine for me.