I really like Openelec XBMC distro because it really does make the Raspberry Pi feel like an appliance since there is really almost no configuration necessary, it just works. Most partitions are read-only, so if it crashes, you don’t have to worry. But, that being said, it makes it a lot harder to tinker with. I couldn’t get a GPIO remote to work and it was a pain to get other software installed on it. It’s perfect if you have a USB remote sensor and you want to set it and forget it.
Raspbmc is another XBMC distro. It is now on RC4 and its getting really good. I like it a real lot. Boot up times are not as good as Openelec, but since you boot it up once, then just let it go, it’s not a big deal. It is based on Debian, so installing extra software is a breeze. Also, since they have switched over to hardfp and other XBMC tweaks, it’s FAST! Also, it comes with the lirc_rpi IR sensor kernel driver so getting a cheap ($1) remote sensor working was easy..
All in all, both distro’s are really coming along nice. It’s impressive that the Raspberry Pi can do all that, or should I say it’s impressive with all the hard work that the developers did it get it to run on the Raspberry Pi.