Xubuntu will provide (The goal of Xubuntu is to produce) an easy to use distribution, based on Ubuntu, using Xfce as the graphical desktop, with a focus on integration, usability and performance, with a particular focus on low memory footprint. The integration in Xubuntu is at a configuration level, a toolkit level, and matching the underlying technology beneath the desktop in Ubuntu. Xubuntu will be built and developed autonomously as part of the wider Ubuntu community, based around the ideals and values of Ubuntu.
It appears that Xubuntu, my current distro, has a bright future under new project leadership. Read more about it here: https://wiki.ubuntu.com/Xubuntu/Specifications/Intrepid/StrategyDocument