After a successful installation of Ubuntu 7.04 (but with display problems at startup) I have moved on and tried to get the most recent version of PCLinuxOS to work. Unfortunately, I had no luck. The welcome screen comes up veeeeeeeery slowly but the livecd boots normally. The system is useless anyway, as I cannot do anything. No devices are being found preventing me from installing the distribution. I am even unable to open the help file as it cannot be found on the hard disk, what is very strange. Last thing I noticed was an error message indicating the sound driver is set to /dev/null, as no supported sound card could be found. Out of curiosity I started the same procedure in Fusion, even with the same settings creating a new VM. Funnily enough the startup screen comes up normally. The livecd boots nicely as it does in Parallels. However, I have sound working immediately, I am able to open the help file and I am able to install it to disk. For both tests I have followed exactly the same procedures.
