You should hit the <Esc> key as soon as the graphic screen appears during the boot process. Watch for any error messages. Post any such accurately.
I see what you're saying. Would you wait longer than 20 minutes for this to boot ?
I would wait on a first boot for hardware detection and etc to complete for as long as needed. Some older, less 'zippy' hardware may take longer.
The first boot process occurs each time you boot a live media.
I did.
When working it says "Plymouth Start" before the blue screen, then I hit escape, it says "libpng error: read error",
then it says "Setting up union filesystem". Then it finishes boot, all this in less than a minute or so.
After the grub screen, boot starts. When you see the plymouth boot graphic is the time to type the
<Esc> key. This switches you to a textual display of the boot process. There will be lines of text on the left and either an
[OK] or a
[Failed] on the right.
The libpng read error is a "null" event. That is, it does not have any effect on the booting of your system.
If nothing occurs between the starting of plymouth and the libpng read error, then booting has not occured. When you say, "it finishes boot," you are saying you logged into the desktop. Is this what you mean?
When this current iso boots it stops at "libpng error: read error". I don't think I should wait longer than
20 minutes.
I would not wait 20 minutes at that point.
I made the LiveCD with PCLLiveUSBCreator also using ext3. The white bar moved to the right and
stopped. I hit escape and saw a blinking cursor and no messages. Waited 5 minutes no result.

Instead of waiting on the bar, try typing the
<Esc> key and check the boot text. That is where you will see any failed messages. These messages are the important ones. The libpng message is of no importance.
One other question. What is the default compression with the 33.7 kernel. Choosing gzip might
use the same one. If I do this iso over I'll try a different compression.
THX for your response(s)
The default compression for mylivecd is xz. The option to use a different compression is available, if you want to use it.