DSL is still running a 2.4 series kernel. So it's not going to support much of the AA1 hardware, at least not out of the box.
I believe you can compile a custom kernel, but a search of their forums at damnsmalllinux.org did not turn up anyone running DSL on an AA1.
You should search puppy linux on this board and/or their forums. There are some custom kernels and spins that do support the AA1. It's not quite as lightweight as DSL, but still very light. Or, if blackbox is the reason for your interest, crunchbang linux has a version for the asus that runs well on the AA1 (cruncheee). It runs openbox. It is not quite as light as puppy and definitely not as light as DSL.