Once installed setup a .guile file:

root@BenNanoNote:~# cat /root/.guile
(use-modules (ice-9 readline))
(activate-readline)

When you run guile now you should be able to use the up and down cursor keys to go through your command history etc.

** UPDATE: GNU Guile now has readline support and root image now contains GLib **

Flash the following:

http://zedstar.org/freerunner/openwrt-s3c24xx-2.6-uImage

http://zedstar.org/freerunner/openwrt-s3c24xx-root.jffs2-128k

Boot the device then:
john@thinkpad:~$ telnet 192.168.254.101
Trying 192.168.254.101…
Connected to 192.168.254.101.
Escape character is ‘^]’.

=== IMPORTANT ============================
Use ‘passwd’ to set your login password
this will disable telnet and enable SSH
——————————————

BusyBox v1.16.1 (2010-05-02 14:45:14 BST) built-in shell (ash)
Enter ‘help’ for a list of built-in commands.

_______ ________ __
| |.—–.—–.—–.| | | |.—-.| |_
| – || _ | -__| || | | || _|| _|
|_______|| __|_____|__|__||________||__| |____|
|__| W I R E L E S S F R E E D O M
KAMIKAZE (bleeding edge, r21293) ——————
* 10 oz Vodka Shake well with ice and strain
* 10 oz Triple sec mixture into 10 shot glasses.
* 10 oz lime juice Salute!
—————————————————
root@OpenWrt:/# uname -a
Linux OpenWrt 2.6.30.10 #1 PREEMPT Sun May 2 14:59:31 BST 2010 armv4tl GNU/Linux
root@OpenWrt:/# guile
guile> (string-tokenize “hello world”)
(“hello” “world”)
guile>