I was told today about a new distro called Chakra which appears to be something I've dreamed off for quite a while; a system like Arch GNU/Linux with the simple approach to configuration, that is easy to install and use overall.. It uses KDE4 so as KDE4 continues to mature it could end up being quite a system.
From their goals section:
"Our goal with Chakra is to provide a operating system for desktops that is easy to use, but still has all the functionality, clarity, power and speediness of a KISS operating system. In the long term, we want to build an operating system based on Arch Linux that meets most requirements desktop users have today,