Qbalt's original aim was to release a more capable, alternative OS for the Cobalt series from Sun (Qube, RaQ) which will be updated and added to regulary by volunteers.
Even though this is still true, and initial releases will be primarily for Cobalt units, the main aim now is to develop a Cobalt-like OS for white boxes (x86, initially, with MIPS/PPC following). Cobalt's are EOL'ed, and we certainly want the project to have a lot more life than what it would imposed solely on Cobalt hardware.
Qbalt is based on Debian Stable, with backports maintained by the Qbalt team; it takes many lessons learnt from the success/popularity of the Cobalt interface; the methodologies of an 'appliance'. In short, it makes the project very different from other existing offerings such as Webmin, which aren't really designed for endusers.
This project has the following developers:
New HTML Parser: The long-awaited libxml2 based HTML parser code is live. It needs further work but already handles most markup better than the original parser.
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If you're a C programmer with some spare time, take a look at the mod_virgule project page and help us with one of the tasks on the ToDo list!