Perhaps there might be interest in a similar project, which is a single-chip BASIC programmable computer that connects to a television and keyboard:
You can see an example of it plugged into a TV at http://jumentum.sourceforge.net/lpc1768-video.html . It uses the low-cost self-contained NXP LPC1768 microcontroller to do everything including generating NTSC or PAL video through software using the DMA controller.
Obviously it won\'t replace an entire Linux PC, but it does have some of the capabilities needed to experiment with programming, networking, hardware, and the like, and not every application requires a full operating system. It would be especially useful for one who wants to add a web or TV front end to a home hardware project. The system operates with 64 kilobytes of RAM, with amenties such as a full-screen text editor, web server, and sockets.
Perhaps it could be incorporated into your own projects.