Freshmeat page: http://freshmeat.net/projects/smalllinux/?highlight=small+linux
Small Linux is is a micro distribution of Linux for Intel machines that will run on a system with as little as 3 megs of RAM. It comes on 2 or 3 diskettes, can be installed on small hard drives, and is designed to work with tinyX, slip, and plip. Uses old version of kernels and debian packages.
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!