In the same vein as Belenix which provides a live CD with an OpenSolaris base and XFCE or KDE as desktop environments, Project Indiana leverages the Distro Construction kit that was created for Belenix and provides a live CD with Gnome as the desktop environment.
It also supports a concept similar to pkg-get (as used with sunfreeware and blastwave on Solaris for many years) which is pkg:
pkg documentation
Now showing at a theather near you
It was released last night as a developer preview and you can get the preview ISO of Project Indiana here:
http://opensolaris.org/os/project/indiana/resources/getit/
It differs from Belenix in that it does require a strict minimum of 512MB.
Further reading (links):
Project Indiana documentation
Release notes
