The new release Ubuntu 6.06 (Dapper Drake), has been released. It's interesting that they've split it into Destop and Server versions with an Alternate CD. Does this finally break the one-CD install? Well, sort of, but it's not a bad compromise. There's still just one CD needed for any particular install, but you have to choose from the set of three.
The built-in support (including being ready-to-go) for LAMP (Linux-Apache-MySQL-PHP) is also excellent! LAMP is the common platform for web-based applications.
I'm also intrigued by Xubuntu. It's a simple X-Windows install based on Xfce so it doesn't have the overhead of Gnome (or KDE).
Frankly, I'll just take twm, please.