http://porteus.org/index.php
Porteus v1.0 announcement
http://distrowatch.com/?newsid=06748Porteus is a complete linux operating system that is optimized to run from CD, USB flash drive, hard drive, or other bootable storage media. It's small (under 300Mb) and insanely fast which allows you to start up and get online while most other operating systems are left spitting dust. Porteus comes in both 32 & 64 bit and aims to keep on the bleeding edge.
Porteus 1.0, a distribution created by the user community of the inactive Slax project, has been released. The 32-bit edition comes with Trinity KDE 3.5.12, while the 64-bit variant ships with KDE 4.6.4 (both flavours also include LXDE as an alternative desktop).
Porteus v1.0 announcement