Here you can find my little hacking how-to for the new Linkstation with 2.x firmware which is based on MIPS hardware and no longer on PPC.

Some files you may need are in this zip file.
And even more files are in this file.
A .config that allows you to build modules (not a complete working kernel!) is also available.
The GPL Source code is now available as a torrent from http://frontalot.is-a-geek.net:81/.

I no longer provide the 2.05 firmware with added telnet, a version with more features is now available from the Downloads section of Linkstation Wiki
Just for the records: in June 2005 there have been 287 people downloading the "old" version. ;-)


Debian Initial Loader Alpha
You can find how to use this one in chapter 5.2 of the pdf mentioned above.
The script still is an alpha but worked fine for me. Please give it the time to go from alpha to beta and then finally to stable.