Well, thats quite brutal. But I'd say doing just some selected european countries and/or big cities might be doable.
I met some people on the SotM in Viena suggesting that Mapnik is horrendously inefficient so it might indeed be possible.
What about the stylesheet used for the detail layer ?
At least this tools does custom rendering from OSM snapshots and uses them default stylesheet, so it should be possible: http://osm.kyblsoft.cz/historie/ (the text in the header says that you need to select on the plus in the upper left corner to select the snapshot)