During a recent move my Gizmo2 got a bit damaged, Ive just finished fixing it up and all runs smoothly. Remembering the biggest problem with the Gizmo was the lack of memory, the Ubuntu image Ive been using takes up around 450MB of the 750MB available to the system (I think the other 250MB is used for graphics share) so this leaves only a small amount for applications.
Im planning to try and create a minimal Debian install running LXDE desktop, on my office computer I have this setup and the memory footprint hangs out at around 188MB which would create a significant saving for applications on Gizmo.
Fingers crossed it should be straight forward, if so I'll update my experience here once I get it up and running.
So I managed to install Debian as above using the standard installer with a slight modification to the boot command line and have a graphical desktop, altogether it runs in a memory footprint of around 233MB which is a significant saving of resources. I'm going to have another try tomorrow and see if I can shave some more off by quitting the installer and forcing just the very basics (the installer puts in lots of unneeded stuff), also some things like dragging a selection box seem to be a bit laggy so on my next try I'll attempt to install the fglrx graphics driver from an earlier blog post to speed up the graphical systems, provided they're compatible with Debian Jessie this should should create a significant performance increase.
Once I settle on a final system I'll post a guide showing how I got there
Although this is reducing disk footprint, some of these also reduce memory as well, Have a look at https://wiki.ubuntu.com/ReducingDiskFootprint . By the way a Debian based system is DSL (Damn Small Linux). Hope this gives you ideas to get only what you need instead of the whole kitchen sink.