Hm.
I was justa thinkin' Cop...
customizing a livecd or making a live cd and stuffing it to the gills is an option....and a great one too...
there is another though...and an even better potential end result.
perhaps a bit easier and you'd know what works and you wouldn't have the task of dealing with all kinds of unknowns with stuff not um.."meshing " properly with the build...esp. considering the age of some of our stuff.
As an example...instead of "making" a live cd from scratch...
how about ..for instance...
http://ubuntuforums.org/showthread.php?t=688872
hell I found a basic tut. on youtube
https://www.youtube.com/watch?v=AbFr-1BQYRw

so yeah ..clone an existing installation and turn it into a livecd distro.
it would naturally have everything you had in your computer and there wouldn't be any troubleshooting concerning making everything work together all happy-happy.

Also it means that you aren't confined to just UCK or a 'buntu based platform ...like so many "make-your-own-livecd" programs are based.

And two ever-so slight steps further into Fabulous ...and I'm looking into it now...would be persistence...and rolling release...in a cloned livecd distro with all that juicy maemo goodness packed right in.
Why then ...essentially it would never need to be re-done .
just update the livecd...
Perhaps it may be more limited in which distros it can be done with...
if it can be done at all...
and so that narrows end-user choice of distro....
but if it can be done ...well then...
I'm going to do some more hunting and reading...
perhaps something like lmde (it's 'buntu) or maybe an arch derivative