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After upgrading kernel to 2.6.28 my clock measures about 70 mins in an hour, sigh. We are debugging the issue with crazy, but probably it's not a user error, so we'll need to mail the lkml.
I just tried qemu svn, and it's amazing.
qemu-system-ppc -prom-env 'boot-device=cd:,\boot\yaboot\yaboot' -prom-env 'boot-args=conf=cd:,\boot\yaboot\yaboot.conf' -cdrom frugalware-1.0pre2-ppc-net.iso -hda ~/documents/qemu/hda.img
can boot the 1.0pre2 ppc netinstall iso! :)
The current problem is that the network card the machine emulates is not supported by the installer, but that'll be tomorrow's problem.