Valentin Angelovski has developed Project Fleatiny, a 8051-based hobby board.
“Project Fleatiny is a 100% open-source hobby-computer built around the 8051 micro controller. From a software point of view, Fleatiny consists of a sofware kernel (taking up from ~3K to 9K Program ROM area depending on installed kernel option modules) that essentially turns any fast 8051 core (though an 8052 core is recommended) with 1K of XRAM or more into a small micro-computing platform with VGA video, audio out, PS/2 keyboard input, SDHC card interface, (up to) 8 I/O + 4 inputs and up to 64KByte SPI RAM expansion.”
Fleatiny’s kernel basically acts like a hardware-oriented task-manager. Currently he has released Fleatiny kernel builds for the relatively obscure STC12LE5xxx and Coreriver Midas 3 series MCUs, but promises more will follow.
Valentin is currently working on his Fleasystems website where you can find more information, including links to the schematic and source code.
Via the contact form.

I would like them to feature this computer on anycpu dot org as this topic is right up their alley and I’m friends with them and they would be friendly to all electronic enthusiasts.
I wonder if guy wrote an opensource C++ compiler for 8051 to run all the Arduino sketches and stuff…
Well yes that is possible, but it might be easier however to port the pinguino IDE to the 8051 instead? :-)
Another option could be to write an embedded sketch source editor and interpreter to run on top of the fleatiny kernel i.e. similar to my downloadable fleatiny kernel + TinyBASIC demo (probably need more than 1K XRAM to be useful though.. :-)
Cheers Valentin