Ubuntu Studio, scheduled for release this spring, is a version of Ubuntu Linux dedicated to multimedia creation — graphics, video and audio editing and so forth. I've been using Ubuntu full time since October (I know, I'm really lagging in my promise to document my switch, but it's coming) and I'm really, really impressed with it. My new Thinkpad is rock-solid, fast as hell, and does almost everything I want it to do (I can't get iPod synch working, but I have some expert assistance in that regard). The most amazing thing is that my OS and all the incredible programs I use every day are totally free — and when I submit bug-reports or feature requests for my favorite apps, they get fixed!
I'm pretty excited at the idea of an Ubuntu optimized for multimedia creation — the regular Ubuntu is so solid and well-thought-out, so I have a lot of hopes for Ubuntu Studio.
See also: Ubuntu for non-geeks