Remastersys is no longer maintained and UCK as well as Live-Magic aren't exactly what I'm looking for as they remaster a livecd. What I'm aiming for is something like PCLOS's makelivecd so I can have a livecd backup of my Ubuntu 11.10 install.

I'm not really looking for a solution that makes incremental backups either. If anyone is familiar with the Alienware image / respawn DVD's, it is something like that even that I have in mind.