Install node.js on Raspberry PI in two simple steps
[ Updated Jan 20, 2013 ] Check out my git repository https://github.com/midnightcodr/rpi_node_install if you are interested in putting newer version of node to raspberry pi (tested with 0.8.14, os runs raspbian)
1) Install the newest wheezy image onto the sd card (currently 2012-07-15-wheezy-raspbian.zip) from http://www.raspberrypi.org/downloads
sudo apt-get install nodejs npm
, press y, Enter when prompted, you will get node.js (v0.6.19) and npm (1.1.4) installed in a few minutes, which should be the easiest way to get node.js and npm up and running on RP.
Note: If you want newer version of node.js you might want to check this out: http://www.raspberrypi.org/phpBB3//viewtopic.php?f=34&t=9929, I have tested the method described in this post in the previous release of wheezy (http://www.raspberrypi.org/archives/1435) and I assume it should work with the current image as well.