Using a Raspberry Pi as a VPN?
Solution 1:
People have built OpenVPN for BeagleBoard, so, in the worst case, you should be able to do something similar. The Raspberry has a lot of press, so it's possible there'll be pre-compiled packages available in the near future, also.
I see this Fedora ARM package. I'm unfamiliar with the naming conventions for non-Intel builds, so I'm not sure if that fits, though.
Solution 2:
I'm not a huge Linux expert by any means and so the various tutorials were not enough for me to get a PPTP VPN working on the Pi. I wanted PPTP as Windows 7 and iDevices support it out the box. I finally got it working and documented the process in my blog:
RaspberryPi as a PPTP VPN Server - HOWTO
In summary, yes the RasPi can definitely function as a VPN endpoint (that costs £35 and uses 5W electricity...) and it does so well. I used the Arch Linux distro but no reason Fedora shouldn't work. I haven't tried having more than two clients connected though.
Solution 3:
It can run Fedora. You can get VPN code for Fedora, in fact it's powerful enough to run a decent Fedora desktop – it'll run a simple VPN just fine.
Maybe don't plan on using it for a corporation, but it'll work.