To quote: It's goals are to provide an easy to install and easy to use graphical environment for the OtherOS platform.
Easy to install means a user will just have to install an otheros.bld file using the XMB and have a storage device available (USB storage device or OtherOS partitioned internal HDD).
Easy to use means no messing around with package managers or command lines, since we know what the hardware is we can forgo a lot of the usual linux setup tasks. And since we're only targeting certain applications we do not need the normal linux style package management system and can use something simple and self contained.
From a developers perspective OurOS will provide a consistent environment to target, and will also come with a ready to use toolchain.
Additionally, a first attempt at a developer filesystem for OurOS is available for download here: http://126.96.36.199/jonathan/ouros-dev-20090601.tar.bz2 [215MB]
Finally, for installation the image is designed to be usable either as the root filesystem of a pre-partitioned, pre-formatted PS3 Linux environment (extracted to an empty / dir), or extracted a new folder and used with chroot.
Further details are available HERE, but be warned of their note: this may destroy you or your PS3, it is not tested. Proceed with caution.