I tried Ubuntu Netbook Remix on the MSI X320. It boots.
There are some things that do not work as of today:
1. SD-Card still provide error lists (card driver reports card insert-remove cycle permanently, effectively using 80-90% CPU). Disabling is mandatory in 9.10
2. Wireless does not work. There are no drivers in the media
3. Graphics adapter (or screen) not recognized. There is no poulsbo driver in the media.
This is specifically sad as Canonical announced support for Intels new ATOM processors.
I read some rumors about Intel sublicensing the driver code from RALink (which sounds reasonable because RALink provides source code on their website).
The annoying part: Nothing works out of the box.