So far I've:

- changed the hostname
- installed a full GNU toolchain (make, gcc, binutils, etc)
- switched my default shell to bash with a nice prompt
- installed sshd and changed all of the various passwords
- disabled vibrate for IM & emails
- moved /var/cache/apt/archives to /home for .deb downloads

I'm contemplating moving more stuff to the microsd card since it's quite fast compared to the internal mmc. I'm down to ~30mb free on / at the moment.