Very cool! I think it's pretty common for people to put down things that are perfectly adequate in favor of the latest and the greatest without really thinking about whether all the excess is really needed, but this is a perfect example of making best use of cheap hardware.
I run Mac OS X 10.6 on an MSi Atom laptop, and it does most things as well as anyone could want. It even runs Final Cut 7 just fine. It's nice to see an alternate OS getting good support on similar systems.
Just like NetBSD, if it can run well on a modest system, then it'd run like hell on a decked-out system...