Arch Linux is an independently-developed i686/x86-64 community distribution, based on a rolling-release model and targeted at competent GNU/Linux users which offers large binary repositories and full-featured package management as well as a ports-like packaging system. Arch provides a minimal environment upon installation, (no GUI), compiled for i686/x86-64 architectures. Arch is lightweight, flexible, simple and aims to be very UNIX-like. Its design philosophy and implementation make it easy to extend and mold into whatever kind of system you're building- from a minimalist console machine to the most grandiose and feature rich desktop environments available. Rather than tearing out unneeded and unwanted packages, Arch offers the power user the ability to build up from a minimal foundation without any defaults chosen for them.
Full Specifications
What's new in version 2011.08.19
Version 2011.08.19 includes support for syslinux bootloader and support for booting from memdisk.