I've achieved this with a few lines of bash on the default Pi distro. I don't really see the benefit unless there's added advantage of Chromium being accelerated? (Last time I checked it was not. Not only that HTML5 Audio was missing too).

For anyone interested heres a dirty bash script I had:

1. Auto Login & Disable Screen Blanking: http://www.raspberrypi.org/phpBB3/viewtopic.php?f=66&t=18200, http://elinux.org/RPi_Debian_Auto_Login

3. Adjust Overscan and force HDMI hotplug: nano /boot/config.txt disable_overscan hdmi_force_hotplug

4. Install Chromium, Matchbox, unclutter: sudo apt-get -y install unclutter matchbox chromium-browser

5. Add a start up script:

unclutter & xset -dpms xset s off

matchbox-window-manager & while true; do sudo rm -r /etc/chromium su -c "chromium-browser --kiosk --incognito http://localhost" -s /bin/sh pi done

The script logs in and starts x with matchbox (better performance than LXDE default), opens Chromium to localhost (nginx would show a page).

I remember I added a few other things to 'sed' replace Pi config files to display a mp4 splash screen I made in AE (it looked marvelous). At one point I had a front end that could manage Wifi and do some other basic tasks. Using PHP and Nginx. Shamefully hackey.