I am a bit surprised that Elive isn't mentioned, for example I use Elive-gem wich comes with a low
latency kernel, I also tried 64studio, Dynebolic, Jacklab,Planet CCRMA, Ubuntu Studio and Musix, but to my opinion none off them came close to Elive. Unfortunately it isn't completely freely anymore
(only available after donation) and with the latest dev-version it seems the low-latency kernel is gone. (seems there was no interesse for multimedia use?)
So in fact I am looking for a replacement within some time, but the problem is that none off the
other available distro's I tried I really liked.
For example I don't like gnome related desktops, if you look inside top there are way too much processes going on and in non-debian distro's I always run into dependency or other troubles.
To my opinion there is no good distro out there still, so more I would ask will there ever be a good modern and light "multimedia" distro?