Looks really cool, except for that the underlying project hasn't issued a release in over two years. Given how much Android has changed in two years, that would seem to make this tool inappropriate for dev testing, unfortunately. Also, the article didn't make it clear if this live distro works with adb or not, which would be very useful for debugging and testing.
This project is still up-and-running: http://www.android-x86.org/ and it works just as well in VirtualBox and adb works fine.
Ah, neat. They must have just moved sites, then. Thank you!