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Crunchbang looks good

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linux-howto

http://crunchbang.org – For #! you only need perhaps 1 GHz, 512 MB or 1 GB RAM and 40 GB HDD. The most RAM is used for Iceweasel and not for the #!-system ;-) Without Iceweasel you only need perhaps 256 MB RAM. (HowTos)