I finally got my hands on the thing I wanted to get first time a heard of it :D
Been trying to roll my own little custom distro for it from scratch ... unfortuantely cross-compiling stuff has it's challenges and it's going to take a lot. For example getting Python compiled is impossible this way, it's building process relyes on native compiler, so it has to be compiled on the Pi.
So I'm using Archlinuxarm on it now and trying to get the kernel customized ...
More to follow.