(Historical note May 2008: The build instructions below, while they should still work, are unnecessary as Multi-TTY has been merged into the main Emacs 23 branch and is available in ubuntu repositories: apt-get install emacs-snapshot)
Last spring I wrote an article about Multi-TTY Emacs. I had promised that I would update instructions for building it on Ubuntu, but since then I have been mainly using Gentoo on my laptop and never got around to updating it. Sorry :)
I switched to Ubuntu Gutsy Gibbon yesterday. I also got Multi-TTY Emacs running, and here's the video to prove it (If this is too small to see, download the original ogg theora version) :