Stefan Reinauer ([email protected]) just uploaded a new patch set to 
gerrit, which you can find at
http://review.coreboot.org/19

-gerrit
commit 35a048bc818aa066d5428a88df3877e4b68f4991
Author: Stefan Reinauer <[email protected]>
Date:   Fri Jun 10 20:05:53 2011 +0200

    Update README with newer version of the text from the web page
    
    Signed-off-by: Stefan Reinauer <[email protected]>
    Change-Id: I4f181979ca5e47b27731c681a320b34cbecc0027

diff --git a/README b/README
index d879695..2c25bef 100644
--- a/README
+++ b/README
@@ -2,11 +2,20 @@
 coreboot README
 -------------------------------------------------------------------------------
 
-coreboot is a Free Software project aimed at replacing the proprietary
-BIOS you can find in most of today's computers.
-
-It performs just a little bit of hardware initialization and then executes
-one of many possible payloads, e.g. a Linux kernel or a bootloader.
+coreboot is a Free Software project aimed at replacing the proprietary BIOS
+(firmware) found in most computers.  coreboot performs a little bit of
+hardware initialization and then executes additional boot logic, called a
+payload.
+
+With the separation of hardware initialization and later boot logic,
+coreboot can scale from specialized applications that run directly
+firmware, run operating systems in flash, load custom
+bootloaders, or implement firmware standards, like PC BIOS services or
+UEFI. This allows for systems to only include the features necessary
+in the target application, reducing the amount of code and flash space
+required.
+
+coreboot was formerly known as LinuxBIOS.
 
 
 Payloads
-- 
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