When I installed it (I thought having DSL on all those systems was a bit much), I tried to start X... and it didn't work. So now after some trying, I fixed X (it was looking for the mouse in /dev/input/mice instead of /dev/psaux) and I set up IceWM a bit.
Pros of DeLi:
Light; The apps included (Konquerer, Abiword) only take up 1MB RAM for some reason... (probably the same with DSL, can't confirm it though.)
Needs a bit of configuration to get really working
Still in Beta (at .7.2 I think)
And from what I can read on the forums, very little software outside of the defaults will install on it. That said, the defaults are great.
All in all it was a great choice for this computer.