Slax is my favourite linux-live distribution!
The latest release 5.0.0 was released on 04/04/2005 featuring:
Kernel 2.6.11.6 with Unionfs, KDE 3.4 with KOffice, X.Org 6.8.2 - this is what other live CDs usually offer, but SLAX is going beyond. These things, together packed on a 180MB CD, are nothing new in the live CD world compared to a new SLAX feature called webconfig. With SLAX, you don't need to worry about saving changes to floppies any more. Webconfig allows you to save your SLAX configuration in a web-based online repository and restore it upon your request...."
Homepage | Download ISO (~189MB) | Changelog

I'm just going to burn a new CD...