Been having a poke around, it seems neither LiveCD nor BootCD will boot into GUI (Using latest HEAD SVN), on 32MB.
BootCD will complete first stage installer, but won't boot into GUI to load the second stage setup. LiveCD immediately hangs.
Now, on VMWare, I use Other/Other as the OS Category, and I've been hearing some (like WaxDragon), using Windows XP Professional as the OS Category. I obtained a BootCD of 17751 rev, and tried it on the WinXP setting, using 32MB. First time I tried it, it hung at copying ole32.dll (34%). Second time, I got a STOP error during the file transfer. Third time, however, it completed the first stage fine.
The only difference between the Other and WinXP Pro settings is the inclusion of a USB Controller. I added one to my "Other" setup, and ROS, again, installed fine first time around on 32MB.
Now, for the interesting bit. The error is a pretty constant one, and it complains of No Memory Pages Available. It seems just common to the GUI, seeing as ROS won't boot on 32MB even once Setup is completed. This is the case for both SVN Live and BootCD's.
Something in the GUI is causing a leak