This is cool! http://www.dynebolic.org/ (just a copy paste of the first page ;) lazy me…)
You don’t need to install anything, you don’t even need an harddisk to run a whole free software operating system running out of the box on your PC! Download the ISO-image, burn your own CD, reboot your machine and you’ll get back true love ;^)

dyne:bolic is shaped on the needs of media activists, artists and creatives as a practical tool for multimedia production: you can manipulate and broadcast both sound and video with tools to record, edit, encode and stream, having automatically recognized most device and peripherals: audio, video, TV, network cards, firewire, usb and more; all using only free software!

You can employ this operating system without the need to install anything, and if you want to run it from harddisk you just need to copy a directory: the easiest installation ever seen!

It is optimized to run on slower computers, turning them into a full media stations: the minimum you need is a pentium1 or k5 PC 64Mb RAM and IDE CD-ROM, or a modded XBOX game console - and if you have more than one, you can easily do clusters.