Oddly the issue from doing my reading does not seem to be getting the BOINC manager to install on the device, but rather finding projects that support the ARM architecture, and the other limitations on the board. So as I do not have the device in hand, the first part of this page is going to be dedicated to Projects I have found that should require far less fuss than most.
Supported projectsQuake Catchers network - While I likely won't be testing this, as I do not live anywhere close to an area known for earthquakes, or at least any more than very very very minor ones, which can be confused for a pick-up truck in the street. But the linked to sight is their own home page specifically advertising its ability to work with the Raspberry pi.
Radioactive @ Home - Has also announced it offers support for the Boinc Raspberry Pi. Though sadly it is like Quake Catchers network as it also requires an additional piece of hardware for it to be able to grant credits.
Asteroids@ home - recently announced support for raspberry pi.
I am giving up hope on this projectI am in a little bit of a predicament, if I am to crunch boinc projects on the raspberry pi, I need to purchase one of the new model B boards with the 512MB memory. While I have made progress in getting several projects to recognize my raspberry pi, the one recurring issue is the amount of memory that my pi has.
As asteroids which is the latest promising one needs 244MB of memory, when running even just in terminal mode I can not free up more than 190MB of memory, without worrying about really cutting essential tasks. So I need to reconsider my project. Not to mention it appears those late to the party actually benefited.