Well for what it's worth, here are my results of building and testing cgminer 3.2.0 on a Raspberry Pi running MinePeon-2013-05-25 (all in all pretty straightforward). Please consider, as a test, I did all this as root which might not be the best choice if you want to "update" your Minepeon system with it later on.
Imagine I'm logged in through ssh, I did a system upgrade beforehand.
pacman -Syu
Then I got the sources from the repo and built cgminer (btw, you need at least "--enable-icarus" for the USB Block Erupter to be supported). It suggests a little different compile flags in the README, you might consider using those.
cd ~ ; mkdir src ; cd src
git clone https://github.com/ckolivas/cgminer.git
cd cgminer
CFLAGS="-g -W -Wall" ./autogen.sh --enable-bflsc --enable-icarus --enable-bitforce --enable-modminer --enable-ztex
make
This should compile cgminer without errors obviously. Don't forget to stop any mining tool that might be running.
systemctl stop cgminer
systemctl stop bfgminer
Optional but lets start cgminer in a screen window, always nice.
screen
Then I just ran cgminer without any special options.
cd ~/src/cgminer
./cgminer -o http://: -u -p (or to set difficulty if supported by pool i.e. "d=2")
It threw some "comms error" msgs but after a sec all miners showed up and started hashing.

Here are my stats with a diff of 1 at start and 2 hours later (2 Lancelots and 5 USB Erupter). I still have to investigate the exceptionally high HW errors on 2 of the USB Erupters (But I got them too using the "build-in" versions of cgminer and bfgminer when I started hashing with these babys).
http://i.imgur.com/1e4HylS.pnghttp://i.imgur.com/R95uwGC.png(seems cgminer sometimes reports wrong speeds like on BLT 1 in the 2nd pic, but that is sporadic and it is correct again after a short while, well here at least)
So all in all cgminer performs pretty nicely on my Pi. Thanks to the devs for all the effort they put into it!
Here's my setup:
https://bitcointalk.org/index.php?topic=195037.msg2388932#msg2388932USB Hub I'm using (5V/3.5A):
http://www.amazon.de/DeLock-Externer-USB-A-Buchse-Netzteil/dp/B002YCIPD6/ref=sr_1_1?ie=UTF8