Another project that might interest, is Distributed Folding:
http://distributedfolding.org/
It's not the same as Folding@Home (F@H) and it is a relatively new project, but it is working on something in the same area as F@H.
I will not create a Gentoo team for it, since I'm already affiliated with the team (Ars Technica Team Stir Fry), but it's not that difficult to create a team :p I would love to see a Gentoo team in the stats
You can find a description of the project on our website, right here:
http://tsf.dbestern.net/background.php
I did F@H before I started on this project, I prefer this project since the primary person behind the project is great guy and quite familiar with Linux - the client was originally written on Linux, not Windows. There are clients for a lot of platforms and more will be added soon. Furthermore, the client is a bit faster on Linux than on Windows and the bugs that have been found, has usually been fixed within a day
When I did F@H, the linux client was much slower (about 30%, but it should be much faster now) and the Linux version was named "clientname.exe"

Don't know if that's still true.
If you decide to run this client, be sure to read the readme1st.txt that comes with the client. It contains a lot of *very* important info in regards configuration of the client (example: if you got enough RAM, you can add a switch which gives you a 100% performance boost on Athlon PC's and 50% on P4 PC's). You can also check the official forum where the project management frequently visits and posts to.
One warning though, this project is not the best for modem users, since you have to upload relatively much. That will change, either when the next generation of the client is released (not this year) or if he re-writes the current client, then the uploads will be much smaller when the next version arrives (in about a month I would guess).