If anyone ever gets any time before me (good chance!) then you might like to look at a Morphix module that includes:

http://freevo.sourceforge.net
http://www.exit1.org/dvdrip/

I'm currently looking to squeeze a very small cli only image with Busybox (http://www.busybox.net), network connectivity, and samba-client onto some 50Mb credit card CDR's. Would ideally like nmap and nessus on their also, but I'll see what I can fit. Is Morphix base a good starting point for this?