Google has released Android 1.5 this week.
I've tried Android on my Eee PC 701 before, using the guideline provided by cupcake, but seems it lacked something such as Eee PC specific kernel modules support and mouse support.
New version of the guideline is more completed and I am trying to build it now.
http://code.google.com/p/patch-hosting-for-android-x86-support/wiki/BuildAndroidForX86Platforms
