Hi,
The OP here. Didn't know so many people were interested in this exercise
In any case - I prepared a new image - this time based on upcoming Ubuntu Xenial (16.04LTS). As previously, available here - goo.gl / sl6rMu
The Xorg driver seems a bit more stable, and doesn't disconnect HDMI after some minutes. I also added restart of LXDE after initial boot, so you should see the LXDE login screen most of the times now (previously, it was very random, probably due to HDMI subsystem code). The image itself is also <2G, so it fits on 2G cards (but, there's only ~300MB free space left).
I skimmed through this thread, and it seems that people are trying to work more on this problem, including compiling the kernel. This seems to be solved now (in some other thread), but out of curiosity I tried to compile the newest available kernel from the nvidia's git, and even if it had compiled (btw, it requires a lot of manual patching), it doesn't work well: the HDMI constantly reports plugged/unplugged events, and the CPU voltage regulator goes crazy. So, the kernel in nvidia_boot.img is pretty much the same.
If you have any question of requests, please feel free to post it here, and I'll check the thread today and tomorrow, but I'm not sure how I could help you more at this point. I'm too lazy to work on dual boots, and other such shiny features, and I'm not really interested in CUDA (although having an accelerated gfx driver would be really cool), so.. that's it