Quietly, a team of 4 Developers/Testers have been working in their
labs day and night to produce the first truly open-source ROM since
Cyanogen. Without using anything from outside sources this group has
managed to re-invent the wheel several times, including the smallest
bash shell to date able to be used on the android system, Vixie-Cron
for low level task scheduling, Reboot option in the power control menu
also allowing for rebooting into recovery, as well as a few other
"under the hood" tweaks. The mastermind behind this rom, Austen
Dicken(CVPCS), has finally deemed the current version 0.5.0 to be open
to public beta. The name of this ROM you ask?

Link to the main Sapphire site:
http://sapphire.cvpcs.orgWhile CVPCS was hard at work putting bash into a car crusher. Todd
Swindoll (Sniffle), who is well known in the android community for his
beginning android compiling guide, has been hard at work on the
accompanying site to this ROM. Not only is the ROM site now
available, but also there is a wiki available with guides for adding
some of these same features to your own "compiled from source" roms
including his full original guide in wiki form, Busybox without
having to modify source, and Superuser.apk and root while only
modifying one source file, with more to come!
Link to generic android wiki site:
http://android.cvpcs.org(quote from CVPCS site)
Special thanks to:
Todd(sniffle): for helping me from the beginning to present on this project, and never tiring of my constant talk over it
Evan(mayh3m): for helping me test EVERYTHING about my ROM, and the continual data/system wipes he no doubt had to endure
Corey(synik4l): for supporting me in this project as well as getting me in touch with many of the android developers
Pete(pete): for answering some of my questions and putting me in touch with several people
Koush: for his willingness to help me with bug fixes, as well as for all of the wonderful work he's done
Cyanogen: for all of his hard work that served as a guide to help me figure out the android build process
Alldroid.org: for graciously offering hosting space for the various files that are available on this site
Feature List:
Base Features
Kernel Features
Custom kernels based on BEKIT
(provides many extra modules for various cool features)
Overclocking started automatically
at boot time (regardless of whether SetCPU is there or not)
Proper working “modprobe” command
(makes loading/unloading kernel modules easier)
Support for wired/wireless tether
Compcache (provides in-RAM
compressed swapspace to help improve performance)
Extended Features
Command-Line Tools
Vixie-CRON low-level task scheduler
(command-line task scheduler)
Colored BASH shell (simply type
“bash” after entering adb shell or terminal emulator shell)
NANO text editor with syntax
highlighting (simply type “nano” using a terminal emulator [syntax
highlighting for asm, c, css, html, java, php, sh, xml, and more])
Busybox (lots of fancy tools and
stuffs)
Cwiid library (full
wiimote/extension connectivity support)
Apps
Superuser (provides root access)
Custom Launcher2 (customized
launcher2 based off helix's launcher2)
Spare Parts app (allows for some
nice tweaking)
Dev Tools (good for developers)
ScriptyBox (scripts!)
adblock (turns ads on or off in the
browser/apps)
camsounds (turns camera
shutter/record sounds on or off)
cpuinfo (display CPU info)
freemem (ensure that 50, 75, or 100
mb of RAM is always available)
halt (shuts down the system)
dalvikjit (enable or disable JIT
[unstable, this is still eclair after all])
meminfo (display memory info)
mtdinfo (display internal system
partition info)
rmapk (remove various APKs, such as
amazon mp3 and whatnot)
sysro (mounts the system partition
read-only)
sysrw (mounts the system partition
read-write)
swapinfo (displays swap space info)
switchapk (downloads and swaps
between various apps, i.e. milestone and 2.1 music, without the need to
put them on the sd card)
zipalign_apks (zipaligns ALL apks on
the entire system)
Other Tweaks
HQ Youtube (defaults to high
quality, use preferences to view in normal quality)
Increased wireless scan time to 90
seconds (saves battery life)
Increased default video record
quality
Branding
**EDIT 06/15/10**: Added feature list to bottom of OP