I've also been considered insane from time to time.
What I want:
1.) rpm/zypper/yum based package management. This allows rpm dependency resolution and installed package verification by the package manager.
2.) SysV init. It's clean and it "just" works.
I think those two are a good start. Being able to use an established automated build system is probably a good idea too.
Any other thoughts?
What I want is a distro with the huge array of available packages and well-testedness of Debian but using Yum/RPM instead of apt/deb.
CentOS is not an option due to severely limited availability of packages and, no, the third party repos are not an option as they are nowhere near as rigorously tested as Debian before going into the stable release (of course with the CentOS 3rd party repos (epel, rpmforge etc etc) there is no 'stable' release its just a gigantic mess). But Yum/RPM is just a much better package management system than apt/deb.
This distro would also pledge to stick with sysvinit.
I also want this RPM based distro to support in place release upgrades like Debian is unlike the CentOS philosophy of 'reformat and rebuild with the new release).