A Data View Web Part (DVWP) using either the Webs Web Service or DataSourceMode="Webs" is a great way to go. Easy to customize and style. If you spent most of a day looking for something, then you could have already been done!
//EDIT As Laurie points out, you generally build and style a DVWP using SharePoint Designer. DVWPs have been available in every version of SharePoint going back to 2003.
You add a DVWP to the page using Insert / Data View on the ribbon in SharePoint Designer 2010. //EDIT