This thing is now in beta and works well (but the site appears to be down).
"eDonkey2000 as we know it; a centralized, server supported network, will soon be written off in the annals of P2P history. Welcome Overnet, the decentralized alternative to this veteran P2P network.
After months of alpha testing, a new and stable Overnet client is now available. Although the interface remains "eDonkyish", its stability, connectivity and resourcefulness is impressive. While previous alpha versions struggled to perform, especially in the Windows 98 environment, Overnet hums a long on XP, consuming little in the way of system resources. CPC usage is negligible, while he program consumes around 8-15 MB of memory.
As network performance goes, we were impressed with the 3,000+ individuals who already have populated this network. The downloading mechanism is identical to original eDonkey2000, so if you throw something into queue, you'll get it - eventually. With the program still in early beta, most of your time will be spent waiting for your download to initiate. However, as progress continues to be made and more individuals populate this network, we should see its performance improve.
eDonkey's transition marks an important time in P2P's history; as iMesh and DirectConnect are the only two major centralized networks remaining. While many refer to the P2P communities that have risen since Napster's wake as "clones", this era of file-sharing is anything but. The networks that exist today are more efficient, more powerful, more diverse, and in the cases of WinMX and FastTrack, much larger than Napster ever was. Check out Overnet and take a peak into the next iteration of the eDonkey network "
http://downloads.come2store.com/napho2/overnet0.27.exe