From the project home page:
Razor-qt is an advanced, easy-to-use, and fast desktop environment based on Qt technologies. It has been tailored for users who value simplicity, speed, and an intuitive interface. Unlike most desktop environments, Razor-Qt also works fine with weak machines.
Someone has already tagged Razor-Qt as
a KDE ripoff
What we have so far is version 0.4 as announced on a blog and, very important, a number of easy ways to install and test it on a few main Linux distributions.
Maybe time has come for something really new in the desktop environment arena almost completely occupied by GNOME and KDE.