I don't think what you are trying to do is really all that possible. You can strip out some of the features, but the bulk of what you don't want/don't need will still be there. I do this with lots of computers that I put together for people and the way that I do it is to use a product called XPLite (they also have a product called 2000Lite, I think when you buy one, you get the other, but I digress). Like I said, I have been using this product for years and have gotten XP installs down under 300 MB (I am NOT recommending that though). As of today, they have a beta release for support of XP-SP3. I hope this helps you out, I know everyone wants free utilities but the product is very inexpensive and really will make your life easier if you do this more than once.
