The guy in that forum is working hard on it he already has made a batch file for it and a list of removable items after you apply a reg patch. He now needs an installer so this will boot up into a complete working OS. If anyone has any ideas on an installer for this please let him know. This is a very exciting project that many will benifit from
I went through the process to remove the files that the forum post recommends AFTER applying the registry settings and upon reboot Win XP gave me all sorts of missing file errors. So if you think that you can just apply the reg patch and then remove the files from XP and -Viola! you have a pruned XP system- Think again. You will blow your OS out of the water! I did. Luckily , I already have a small nLited Xp install so it was just a matter of reinstalling that - took 8 minutes or so . No biggie.
I have my install down to about 775 meg with no pagefile. I am hesitant in removing more components.