Below is a video of the boot process with Moblin V2 Alpha 2. The boot process is even faster with the second alpha release! While kernel mode-setting is now utilized by the Moblin project, note that the KMS-dependent Plymouth project is not used for its boot splash screen. On this Atom netbook with an OCZ Core Series V2 SSD, the system just boots so fast that a splash screen is not even warranted.
The Bootchart results for the Moblin V2 Alpha 2 show that it takes 16 seconds to boot. Of course, to the user it does not seem that long. If you look at the Bootchart graphic, the X Server starts within about three seconds of the boot along with GDM. The Xfce 4.6 session is running at about the seven-second marker. The terminal is up at about eight seconds.
Thus far, Intel is doing a marvelous job on Intel Moblin V2. From our initial testing of Moblin V2, it is extremely fast -- just not the boot process -- but the desktop is extremely responsive on a netbook and it is working wonderfully. Once Intel properly incorporates the planned Clutter desktop interface it will be even more interesting. It is certainly worth keeping an eye on Moblin V2 and once it is finalized, we will hopefully begin seeing this Linux desktop distribution on more than a few OEM devices.