If i would attempt a Linux based live cd i would use the following resources
http://blahonga2.yanson.org/howtos/livecd/http://www.gentoo.org/doc/en/handbookGentoo probably the best bet as the genkernel can prob run on any hardware. and you build it from scratch. though if you don't like manuals don't try gentoo.
http://www.linux-live.org/should work on any linux to create a live cd