You could try Gentoo. I haven't installed it on a PPC machine but it was a very interesting experience installing it on Sparc architecture. Check out the download link
here and select PPC. Documentation is/was very good when I built my Sun box.
You'll also learn a heck of a lot about Linux building it.
The P520's a nice box, one thing I seem to remember about it is that if you want to increase the processing power, apart from the dual processor module(s) you also need to fit the appropriate CPU interconnect board to match the number of modules.
Google IBM 8203-E4A, IBM's got loads of good info available about the hardware and loading software, etc,
Play Bonny!