Installed Eeebuntu 3.0 on the Eee tonight. So far so good. Boot time is much faster. So far the only problem I’ve noticed is the touchpad is a little jumpy.
I installed the Standard Edition which includes Firefox, Thunderbird, Skype, and VLC (among others).
Install from USB stick was straightforward and painless.
I’ll update with new info as needed.
UPDATE: I installed the NBR version and had a lot of display problems. Looks like a bug somewhere in the windowing system. I put Standard back on.