How about a 4.9mb ISO for an OS that boots in just a couple of seconds for your netbook? Sure it doesn't look very fancy nor is it anything for big video editing sessions, but I don't think it's made for that. For webbrowsing, word processing and emails it's enough, I guess. If I had a netbook, I'd give it a try.
Nice and clean, lightning fast
Reminds me of 3.11...
It's currently on version 0.7.7.0 and there is a possiblity to download the ISO for a Live-CD (and of course Live-Usb) and for a floppy (diskette! I haven't had a drive since 2004 or so). Link