I dunno, but I've been using FC1 (Fedora Core 1) since nearly the day it came out, and it is a mighty fine distro.
And yes, it is pretty much just like RedHat, down to the inclusion of all the "redhat-config-foo" tools. Except now they're called "system-config-foo" (where foo is the name of the tool).
It's been quite solid, though you'll need to update like crazy once you get it (kde 3.2 is out

, as are new kernel versions, and
many programs/libraries have been updated).
Also, it plays well with the 2.6.X kernel, which you can get precompiled for FC1 in an easy rpm format
right here.
KDE 3.2.1 rpms for fedora are
here.
The official download page for yum (getting the latest version is highly recommended, and last time I did, it came with a nice set of repositories all set up) is
here.
Happy hunting.
Sam