rough rule of thumb is: iso-size = size of installed system / 3. For example the FullMonty master is 12.1 GB and the resulting iso is 4.0GB
That's about what I'm working to - 2.1gig condenses to just under 700mb. It's when you create a live cd and you have a spare 50mb - how much more can you squeeze in ?!? Yep, trial and error.
The size would have been larger had I added anything to /home
I know what you're saying Neal - fortunately this is a system remaster, otherwise bye-bye cd! Mind you, got to be careful with /etc/skel.