My nLite XPSP2 install was ~380-400MB stock w/o a hiberfile. With a bit more after install tweaking, I'm sure it could be made smaller -- it just depends on what system interfaces and services you need and/or expect to work.
Here's my settings.ini file from nLite.
Code:
[Main]
Version = 0.99.4 beta 2
Framework = 1.1.4322.2032
Target = Windows XP Professional SP2 - build 2180
[Pages]
Service Pack Integration
Components Removal
Unattended Setup
Options
Bootable ISO Image
[Components]
Accessibility Options
Briefcase
Calculator
Charmap
Defragmenter
Games
Internet Games
Pinball
Screensavers
Wordpad
Battery
Bluetooth Support
Cameras and Camcorders
Display Adapters
Toshiba DVD decoder card
Firewire (1394)
IBM Thinkpad
InfraRed
ISDN
Modems
MultiFunctional
Multi-port serial adapters
Portable Audio
Printers
Scanners
SCSI
Smartcards
Wireless Ethernet (WLAN)
Communication tools
FrontPage Extensions
Internet Information Services
NWLink IPX/SPX/NetBIOS Protocol
Internet Printing
Windows Messenger
MSN Explorer
Netmeeting
Network Monitor
NetShell Cmd-Tool
Client for Netware Networks
Outlook Express
Peer-to-Peer
Synchronization Manager
Tcp/Ip Version 6
Web Folders
Arabic
Baltic
Central Europe
Chinese Simplified
Chinese Traditional
Cyrillic
Georgian
Greek
Hebrew
Indian
Japanese
Korean
Thai
Turkish
Vietnamese
Multilanguage Support (LANG dir)
Service Pack Messages
Images and Backgrounds
Luna Theme
Media Center
Mouse Cursors
Movie Maker
Music Samples
Old CDPlayer and Sound Recorder
Paint
MIDI audio support
Speech Support
Tablet PC
Windows Sounds
Windows Media Player
Administrator VB scripts
Disk Cleanup
DR Watson
File and Settings Wizard
Framework
Help
Manual Install and Upgrade
MS Agent
Out of Box Experience
Search Assistant
Security Center
Shell Media Handler
Task Scheduler
Tour
Web View
Alerter
Application Layer Gateway
ClipBook
CTF Loader
Distributed Link Tracking Client
Error Reporting
Fax Services
Imapi
Indexing Service
Messenger
Performance Logs and Alerts
Remote Registry
Removable Storage
Secondary Logon
SNMP
TCP/IP NetBIOS Helper
Service Advertising Protocol
System Restore
Telnet Server
Terminal Services
Uninterruptible Power Supply
Universal Plug and Play
Volume Shadow Copy
WebClient
Windows Time
Wireless Zero Configuration
docs
support
valueadd
[KeepFiles]
msconfig.exe
scrnsave.scr
[RemoveFiles]
[Options]
ProfilesDir = "%SystemDrive%\Documents and Settings"
isomaker = -volid "WinLite" -allow-multidot -relaxed-filenames -allow-leading-dots -N -l -d -D -joliet-long -duplicates-once -no-emul-boot -b boot.bin -hide boot.bin -hide boot.catalog
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