Arch Linux
From TheLinuxVault

Derivative of: Linux
Managed by: Arch Linux developers
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Current Stable Release: 2007.08-2 dontpanic
Arch Linux is an independently developed, i686/x86_64-optimised Linux distribution targeted at competent Linux users. It uses 'pacman', its own package manager, to provide updates to the latest software applications with full dependency tracking. Operating on a rolling release system, Arch can be installed from a CD image or via an FTP server. The default install provides a solid base that enables users to create a custom installation. In addition, the Arch Build System (ABS) provides a way to easily build new packages, modify the configuration of stock packages, and share these packages with other users via the Arch Linux User Repository.
Contrary to other distributions Arch Linux does not have releases. From time to time (now shortly after each major kernel release) there is ISO release which is just a snapshot of packages from repository plus improved installer.
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