It's done

Drop me a PM if you want a download link and have a 8gb flashdisk that you can spare
EDIT:
Scratch that, it feels stable enough to release now
1) Download this:
http://mediahog.co.za/firmwares/MH_MASTER_0.8.2.7z
2) Extract it with 7-Zip ( Will take about 8gb of space )
3) Download and extract this:
http://mediahog.co.za/firmwares/USBIT.7z
4) Run the app included in the second archive, point it at the extracted firmware and tell it to "Restore" to the flashdisk( Has to be 8GB or more, will not work on smaller flashdrives currently ).
5) Put the flashdisk into the microserver's internal port, turn it on and it should boot straight
Should also work on a PC that has an NVIDIA card, I am working on getting ATI drivers working at the moment.
I developed this to work on my N36L microserver, but can confirm that it works 100% on the N40L as well, tested with an NVIDIA GT520 card ( gigabyte )
Please PM me problems, I don't often check this thread
"support" user password ( for root/su access ):
Also working on:
-New SuperSport plugin that will initially only be available with this firmware package ( For release when it's 100% stable )
-ATI Compatability
-Auto detection of internal storage ( May or may not work at the moment, ZFS being particularly fun )
-Installing XBMC Eden when released