News item and discussion: 'Peppermint: cloud-based Linux system'Linux Toy, May 18, 2010
Short news item which seems to have gathered some attention, judging by the comments section.
The news item itself simply covers the bases and provides a link to the download page, noting that it's possible to run in a VM. The comments contain quite a lot of debate over the definition of 'cloud' computing, although Google Translate doesn't do such a good job that I have a particularly good handle on the vibe there

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Link (Japanese)