Fedora 13 is the current release. I am running Fedora 13 on my Asus EEE 900HA netbook, no problem. I am using the regular Gnome desktop, instead of a special "launcher" interface like the Ubuntu Netbook Edition. Fedora is a "bleeding edge" distro with the latest hardware support and kernel, so it makes a good choice for netbooks in my opinion.
You might find this link helpful:
https://fedoraproject.org/wiki/Netbooks