Building a NAS Device w/ Embedded OS?

An Anonymous Coward asks: "I've been thinking about building a NAS device similar to the Quantum Snap Server Has anyone come across anyone else working on a similar project? One that at the very least uses a small integrated board and some sort of embedded OS? Ive seen several systems that run a full Linux OS and separate boot hard drives, but this solution seems a bit too bulky for whats really required. Something that features a FTP/HTTP/SMB interface would be pretty slick!"