The directory new-boot-0.2 is the only subdirectory you should really look at.
It contains high quality boot scripts and demonstrates a runlevel-based setup
that is superior to the classic SysVinit setups regarding scalability,
maintainability and about everything else there is to criticize about 
SysVinit setups (see WHY_SYSVINIT_SETUPS_SUCK in the top-level directory of
this package).

The new-boot-0.1 directory is only included for historic reference. It has
been obsoleted by new-boot-0.2 which is an order of magnitude better than the
old system and its scripts.

The directory lfs-3.0 contains the boot scripts from the Linux From Scratch
(http://www.linuxfromscratch.org) book version 3.0, slightly adapted to
fit with simpleinit-msb's user space testing. 
NOTE: The new-boot-0.2 scripts have been derived from the LFS scripts and fix
many issues the LFS scripts have. Furthermore the lfs-3.0 example setup tries
to mimic the SysVinit setup used by the LFS book which requires some ugly
twists. You should definitely prefer new-boot-0.2.
