I looked at LFS, GenToo and UltimateLinux. These all seem to fit their particular niches very well. I want to base this project on more established distributions, based on the following assumptions. I am using LFS and GenToo as loose models:Out of curiosity, besides not being based on Fedora, what about LFS doesn't suit your needs?
1.) People would rather adopt one of the big four RedHat (Fedora), Suse, Mandrake, and Debian.
2.) A customized version of the above distro's could be supported by those companies. Just like I could install RedHat and then the java*.rpm I have not voided my support agreement.
3.) Binary packages are getting better and can always be customized for even finer grained control
4.) Basing this "redistribution" off of existing distributions will help (however small) to keep linux from fracturing into individual systems like Unix (please not flames on this, it my opinion).
5.) It would be possible to establish a solution set across the big four distro's. Example: Linux Gaming Distro based on Fedora Core 1, Mandrake 10, ...