OpenIndiana project was launched officially the 14th of September, this project is a brand new distribution of OpenSolaris, constructed by the community, for the community. The primary goal is to be a binary and package compatible drop in replacement for the official OpenSolaris and forthcoming Solaris 11 and Solaris 11 Express releases.”
The first development release, oi_147, is now available for download! It is available in 3 download formats – a Live DVD with a graphical installer which installs a full desktop environment, a Text installer CD which installs a minimal server install, and the Automated Installer ISO which allows performing a custom install via XML files.
I installed Openindiana in My virtual Machine, here are the first screenshots: