Original Post ........
I currently have a remaster rootfs from a live cd P.I.N.G It my understanding it was built off of LFS.
The issue is the kernel needed for newer hardware has passed the rootfs libs. Since it is stripped down, I can not chroot to make updates. I have been just patching the files, building a new loop 'initrd', compressing it 'initrd.gz' then skipping the step to make the actual ISO. Then with the kernel and initrd.gz file, I can PXE boot it or grub4dos boot the same 'initrd.gz' file. Latter I will give both the menu.lst and pxelinux.cfg/default boot configurations. In the past I did not know ground level how the boot process worked, I was able to make what I need work from a 30,000 foot understanding.