I hear mixed reviews over them (if the above responses didn't give it away) Though, Bodaggit23, Acer apparently didn't start really manufacturing laptops until 1997. IBM, Toshiba, Compaq, HP, Packard Bell...just a few brands off the top of my head who made computers before Acer.
Anyway, yeah, Acer's tend to be on the cheaper side. I'm happy with my little netbook, but it's obvious certain parts of it aren't as nice as other laptops. All in all they are pretty fair laptops, but I'd probably stick with their netbooks over their laptops.
Also, if you need a hint towards their quality, check out the companies they apparently own now... Emachines, Gateway...are they not some of the cheaper brands out there?

(can't say much about Packard Bell since they left the states around 2000!)