It occurred to me that PupEee waits 8 seconds at bootup, in cause I want to issue boot commands. That is a long time... well, not really, but it's longer than I need. So I deided to see if I could shorten it.
If you navigate to /mnt/home (this is where your PupEee lives), you'll find the file syslinux.cfg - open this with a text editor. Find this line:
and change it so it reads:
Congratulations, you have taken five seconds of the boot time off!
You probably want to open the file boot.msg in a text editor as well and change the text to reflect the shorter time you got to enter boot options, just in case you forgets.
PupEee now boots in 53 seconds on my 701.