Will ParanoidLinux Protect the Truly Paranoid?

There are still places on the world where having anonymity might mean the difference between life and death. Covering one’s tracks is considered to be of such paramount importance that we are now witnessing the rise of a Linux distro catering to the most paranoid. The alpha-alpha version of ParanoidLinux is now out. But is this the best way to protect oneself? Couldn’t it be easily circumvented? — via Slashdot