I think the Anstrom distribution uses it and maybe others (maybe Linaro?). Mentor Graphics, Denx and others are using it as a base system for their value added, commercial Linux services.

We will be using OpenEmbedded / Yocto / ELDK tools at work but we are very much at the start of the learning curve.
AFAICS, ELDK is a "Layer" provided by Denx Software Engineering which provides further, more specialized functionality.

Since I need to learn to use Yocto anyway, I'll try to use it for hacking my Panda board.

Would like to hear from others who are attempting the same.

BTW, we are looking for a consultant, preferably located in Melbourne Australia, who can get us up to speed. A 12 months contract may be available.