Capnkirby have had his hands at MepisLite and been quite happy with it, according to this review – but it isn't free.
You can see the results here.
Quick, stable and highly usable come to mind as the easiest manner to describe what Mepis has created here. I hesitate to wholly recommend it as it is destined to be a for sale only product living outside the world of GNU. It is a great piece of work that delivers on what it has promised, but I am uncomfortable with a product such as this being for sale only, and not being available in an un-supported version as well.