ExtremeTech has an article building an Intel Atom based PC.

Intel's Atom has generated a lot of attention. Some of that attention has been positive: Intel building an x86 CPU whose primary design goal is very low power usage while maintaining good performance. On the other hand, Atom has been criticized for given up some key performance features, such as speculative, out-of-order execution.
Still, Atom has garnered some interesting design wins, including appearing in some of the tiny laptops first pioneered by the ASUS EeePC. Atom's most recent appearance has been in MSI's latest sub-laptop, the Wind.
What about Atom on the desktop?
First, you might ask why you'd want Atom in a desktop configuration. Its very nature suggests that performance would be limited. At 1.6GHz, and lacking out-of-order execution, performance might be pretty low. Other aspects of Atom, such as simultaneous multithreading (Hyper Threading) and a fast SSE2 floating point unit, might mitigate some of that.

in their conclusion, they get to some of the ideas for a Little Green Server.

In the end, a PC built around an Intel D945GCLF makes for a fine, light duty Web-oriented PC. It could even serve as a light duty home server, with the right storage gear. It is not, however, well-suited for even casual gaming, and we'd hesitate to run a full-bore office suite on it. Still, at 46W running flat out, it won't break your power budget.
Intel is really just dipping its toes into this market. We'd love to see more home-server oriented boards, with onboard RAID and no parallel ATA ports, for example. The system is also pretty noisy; the tiny CPU cooler isn't exactly quiet. Still, the D945GCLF will make an interesting test bed for anyone wanting to explore Atom's capabilities.

Another interesting review is from AnandTech and Asus's EEE Box.

Tom's Hardware has a review of the Intel Atom chip.

Intel is rumored to be releasing dual core Intel Atom's in Q4 '08.