nLite is an all-in-one GUI utility that will give you the ability to permanently remove unwanted components such as Internet Explorer, Outlook Express, Media Player, MSN Explorer, MSN Messenger and a variety of other components from your own Windows CD. This results in a slimmer Windows CD, faster Windows installation, more hard disk space, and is also known to free up RAM resources when using a cut-down version of Windows.
Once it has finish the removal of components of your choice, you are given the option to create a bootable ISO of Windows XP which you can test in a Virtual environment or burn straight to CD media. nLite also includes an automated slipstreamer for slipstreaming a Service Pack on the go. And best of all, its free! So far it supports Windows 2000, XP x86/x64 and 2003 x86/x64 all languages.