This page describes the emulation of a Debian PPC system using the Qemu emulator and how to build an image yourself.
I asked him by email the r00t password , seems that isn't provided in the guide ;)
screen shots soon , on my system i downloaded the openhackware too (qemu-system-ppc complained about the missing bios) http://perso.magic.fr/l_indien/OpenHackWare/
read more | digg story
You can read the comments on digg on how it worked
And here are the results
ps: My next stop debian on mipsel emulator (on the same page where i got this guide is described)