I tried the remastersys script (version 1.51) with the dist and backup options with a customized ubuntu 7.04 system.
The system from where I built was a Pentium D 805 2,66 GHZ with 2 GB RAM and fast 320 GB HDD with 16 MB cache
I used 2 users (ubuntu, dennis). I worked mainly with "dennis" and I exported the customized profile with export HOME=/etc/skel
Because I have a few partitions on this hdd I moved my boot folder temp. on a external usb disk and mounted the squashfs from a original ubuntu 7.04 livecd iso and I copied the boot folder on my root
Then I started the creation. The size of the created iso was about 1,8 GB and after checking the boot ability with qemu I decided to make some test installations. So I tried a few installations on 2 PCs:
The one was another HDD from the above mentioned build PC. I can choose the HDD in Bios and deactivate the other HDD. The other was a Dell SX270 Pentium Celeron 2,66 GHZ, 1 GB RAM, 40 GB HDD
The installations worked fine.
PS: Sorry for my bad english