That specific atom processor is faster than the K1, but the trade off is less battery life. It's still gonna get about 5-6 hours easily (maybe not that much watching netflix or videos) doing things like typing, browsing, emails etc.
The thing with Toshiba's imo is that they've always had kind of mediocre battery life. But ultimately if you like the IPS screen then go for it. The CPU in that laptop is fine and should be speedy enough, just make sure to get the 4GB RAM model I guess