I'm being beta tested as a father of a 3 days old boy, and have no Pegasos around, so I post these links here:
http://www.ubuntu.com/testing/herd5
Previous test release had no X and no bootable kernel. EdUbuntu did not install at all, hang somewhere in the middle, most probably due to the kernel problem. Should work on Pegasos, but there were no EFIKA drivers included (needed patches not ported to 2.6.20 kernel).
http://www.redhat.com/archives/fedora-a ... 00000.html
Previous test release had no Pegasos related drivers (at least VIA IDE driver was missing). EFIKA support was included, as far as I can tell from module names, but not tested by me.
If you have a little time, please download the installers, test and provide feedback!