I mined with ~500mhash for 12hours and do not seem to have found anything. I tried the testnet flag to check the setup but it does not connect:
C:\phoenix>c:\phoenix\phoenix.exe -u 
http://xxxx:yyyy@127.0.0.1:8336 -
k poclbm DEVICE=2 -v -q 3 -a 256 VECTORS BFI_INT AGGRESSION=10
[25/05/2011 22:37:01] Phoenix 1.48 starting...
MSG: Bitcoin is not connected!
[25/05/2011 22:37:01] Failed to connect, retrying...
[0 Khash/sec] [0 Accepted] [0 Rejected] [RPC]
the miners seem to work fine with normal use. I assume there is no testnet for namecoin yet, correct? (could not find this info).
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I forgot they have to mature. using "namecoind.exe listtransactions" to find out how many I got...  sweet I got a couple of blocks. I imagine this is a little bit similiar to when it all started, very nice.