Via Slashdot, Cobind Desktop is an interesting Linux Distro. It is based on Fedora Core and is pretty cutting edge component wise. It runs version 2.6.4 of the kernel, has XFree86 4.3.0, GCC 3.3.3, and so on. It does not rely on KDE or Gnome, rather XFce. This results in a lean distro with clean lines.
For more info, check out an article at FlexBeta about it.