I have noticed that some of the bigger distros(in file size) like Fedora and Arch Linux is providing GMA500 support for their OS.
But... there is a big "but" here... Its not out of the box. Its a lot of terminal commands and so forth. That leaves it for very few to utilize.

Then you have Mandriva, that got drivers for the GMA500. Its out of the box

There is a big "but" here as well.

Mandriva is to big and bloated to run properly on this weak chipset with an atom. Its boots up a lot slower than Windows XP.

So it does not really help to jump over to that one neither.

I know Slitaz comes(or came) in a EEEversion.

Is there by any chance someone that believes that such drivers can become a reality?