I've got a very minimal install of Fedora on PPC (ibook2) working
Main gotcha other than kernel packages was the mkinitrd from ppc rawhide
repo required ppc64-utils - I assume that the conditional in mknitrd
should be ifarch ppc64?
I hope to get anaconda-runtime and anaconda on sometime this week and
build iso images.
I've been working on this too. I have not attacked the anaconda/install
process yet either. One thing that may interest you is a small bug
report I just entered into Red Hat's bugzilla. Bug #108095 proposes
a patch to initscripts that adds support for mouse-emulation on PPC
(like YellowDog does).