HI I'm new in this forum. Just like you I'm still looking for a nice distro for this notebook.
I haven't been lucky with Leo but I managed to install Snow Leo on 4530 using Hazard's 10.6.2 Distro.

Here's some info I can share after countless reinstalls. This combination somehow works for me. Mine is has Turion zm-80 BTW

The usb mouse trick is still needed or else it'll reboot.
Airport works after the 2nd reboot but no light on the button
WebCam Works
Bluetooth Works with light on button
USB works
Card Reader Works
Battery Meter works
Trackpad works but no scroll
No Sound
NVidia doesn't work
Broadcomm Ethernet doesn't work

Here's what I selected
BlackKnight 10.2.0 Kernel
Chameleon 3 RC5 works.
AMD Patch
AtherosFix
ACPIBattery
MACAM
Voodoops2trackpad
ElliottForceLegacyRTC
IOATAFamily_SATA_Fix
+ All Patches except Orange_Icon_Fix and Card_Reader