Since years I tried many Live-CDs with different operating systems. Common for all is a rather long bootingtime between 100 and 200 seconds and in some cases even more. Recently I tried the newest Hiren-CD and found a bootingtime of 32 seconds. Analysing the CD I found a file containing a compressed image of a drive. The filesystem of the drive is compressed NTFS. The contents is the I386-folder of a XP-based operatingsystem.
To use this approach for a LIVE-XP I put the I386-folder in a compressed NTFS-drive. I compressed the image of this drive with cabarc.exe and replaced the sesulting file with the file XP.CA_ of a Hiren-CD. To my surprise this CD booted within 35 seconds. But it was not really usefull because the rest of the operatingsystem dosnot fit to the I386-folder. My knowhow is to poor to go further but I hope an expert can use this approach to create a fastbooting LIVE-XP.