LRs is based upon Linux From Scratch (LFS). In contrast to LFS and most common distros, LRs has the ability to compile directly from the CD. This means that binaries can be natively compiled for the target host during the install, enhancing the performance of the resultant system. The install process is largely automated.
The newest LRs Release Candidate 'Creme-13' is out now. Based on LFS-5.0 with KDE-3.1.4, Kernel-2.4.22, LRsGrubConfig, LRsBootConfig, LRsStatusReport on tty2 and much more. Have fun!