I have sucessfully compiled QPE ( http://qpe.sourceforge.net )for the TuxScreen, in 8 bit mode.
Everything seems to work just fine, save the touchscreen. SamMulvey is currently in trying to figure out what the problem is, but isn't much of a C(++) hacker.
To compile it, use the iPAQ installation instructions per the QPE website, but use the '-depths 8' flag during the configure stage. If you wish to add VNC server support, you will need to add '-depths 8,16 -vnc' at this stage, though that makes the Qt/Embedded libraries larger.
In order to use this, you'll need to be RunningFamiliar as QPE is C++ and uClibc does not currently support it. You'll also want to be using CF or an NFS mount. Though QPE can fit in less than three megabytes, the result isn't entirely too great.