Linaro embedded Linux distro?

During ELC a few people asked me if Linaro had something bigger than nano and smaller than Ubuntu that they could use to build stuff. Of course I said Android, but a lot of people actually want a regular Linux platform where they can easily recompile what they need to hack on, add their own libs and scripts and generally work in an "embedded, cross build way." I know there's OpenEmbedded and I've heard of something called "livebuild." Does anyone have anymore info? This class of users is arguably the largest class of people using these boards so creating something targeted at them would allow them to get all the benefits of Linaro in a easy to use fashion.