The only thing to be fixed was setarch(8) symlinks assumption
that is correct for x86 but not for ARM.

There's also some hasher(7) setup to be done:

  mkdir -p ~/.hasher
  echo >> ~/.hasher/config <<-EOF
  def_target=arm
  #cache_dir=$HOME/tmp	# depends on RAM/storage configuration
  EOF

...and of course apt(8) should be properly set up too.

An example PoC build on a CM-A510 board (tmpfs):

  $ make BRANDING=altlinux-centaurus ve/bare.tar.gz
  ** ARCH: arm
  18:10:45 initializing BUILDDIR: build/
  18:10:45 preparing distro config: build/distcfg.mk
  18:10:46 starting image build: tail -f build/build.log
  18:14:49 done (4:02)
  ** image: $TMP/out/bare-20120706-arm.tar.gz [23M]