Live image from filesystem snapshot?

[Steven I Usdansky]

Not sure where to send this request, but since it was inspired by the
Fedora has become fat! discussion, this seems like an appropriate
place. I have a nicely tweaked installation of the LXDE spin sitting
on my hard drive that I would like to snapshot and place on a live
USB stick (ideally with persistent overlay). Is there a simple way
to do this? I really don't want to have to mess around with revisor
and custom kickstart files - been there, done that.