I haven't ever used a script, but I've just built my own. Typically it involves doing a base install and then adding things I want. Though next time I get my hands on a clunker, I'm going to try the LXDE Lenny install CD (though according to this
article, the default application set is kind of heavy).
As for light applications, I install the following:
email - sylpheed or apline
web - iceweasel and links2 or netsurf
office - nano, abiword, gnumeric, gnucash, xpdf
Can't think of what else I use off the top of my head...