Guess what you get when you put a precompiled kernel and the IPFire 3.x root filesystem together? A running version of IPFire 3 on the Raspberry Pi computer!
Sadly, the Raspberry Pi foundation did not encourage the kernel developers to make support for the Broadcom SoC they use upstream, but some independent (i.e. not Broadcom staff) people are working on this very hard.
If there is interest on having a test image, I could upload one. Feel free to ask.