Went there, did that, and am very happy with the results. I'd been using UBCD which I like, but it requires an XP SP1 install disc to create, and I believe Ubuntu is probably better supported. It's definitely easier to get started with.
I burned it to a CD which works fine, but it takes about 5 min. to boot up, so I think I'll try burning it to a DVD to see if maybe that's faster.