Rubinime, Rubiniyou, Rubinius

Let's discuss the whole Rubinius shebang, but I'm specifically interested in the 'acronym layer' of Rubinius. The VM and JIT compiler are sweet and being able to host languages in the VM (like Java) is a killer feature most may not be familiar with. For instance, we have Fancy, a language based on Ruby, Smalltalk, and Erlang (looks and will eventually act very Erlang-ish), a self-hosted language that runs on the Rubinius VM. The possibilities for creating your own multipurpose language and hosting it on Rubinius (though it may still be slightly immature, it is growing up at a good clip) are wide open but there is so much more to be discussed than just the VM... Thoughts?