I just chroot-installed lubuntu 12.04 on my N10, using http://forum.xda-developers.com/show....php?t=1585009
This is just for curiosity's sake, to see what ubuntu is like on the N10, both in terms of usage/GUI and in terms of performance (knowing full well that performance will take a big hit under chroot/VNC). Here my little report, in case it would be of use as a reference for developing/running linux natively on the N10.
In short: lubuntu is almost usable. Graphics is sluggish (as expected?); as you move xterm across the screen you actually see a series of rectangles and it takes a few seconds for the DE to clean it up. Once you're inside the xterm then the system seems fairly responsive. I was able to apt-get install latex and libreoffice (!) and both work. Curiously scp does not work (ssh does) and I didn't spend much time investigating scp. I can't install dropbox.
I set the resolution of the VNC viewer to be 2560x1500 (leaving room for the android buttons). That was a mistake; menu/window frames/scroll bars etc are TINY. I should have used a smaller resolution and then pinch-zoom. Suggestion for developer: Make everything bigger.
According to top, just running the VNC viewer takes 110-120% of the CPU. That means if we can run linux naively we should expect much better performance.
Finally, I installed "System Profiler & Benchmark". Here's the output of the benchmark for the N10 vs that of an N270 atom netbook with 1G of ram and my Quad Core Q9400 @ 2.66GHz (for all benchmarks below except for cryptohash: a smaller number is better):
Q9400 2003 MHz 3.283
N10 Unknown MHz 24.159
netbook 1600MHz 16.305 <-- not typo
Intel(R) Celeron(R) M processor 1.50GHz (null) 26.1876862
PowerPC 740/750 (280.00MHz) (null) 172.816713
Intel(R) Celeron(R) M processor 8.1375674
PowerPC 740/750 58.07682
N10 15.616 <-- not typo
Intel (R) Celeron (R) M processor 40.8816714
PowerPC 740/750 161.312647