Well, for us "Asana + Facebook chat + Email + Dropbox + Google Docs" works right now. Although, I know that we don't have "a process of a dream", in fact. I liked this talk about distributed team in Treehouse - http://vimeo.com/47271938 - of course, it's about rather a big company but has interesting points for anyone, I guess (I also liked 4-day workweek idea).