@maxmint: Armory needs the full block chain (if I am right). This does not make for a good live cd if you need to download a couple of hundred megabytes each time and have no place to store it other than RAM.

@Stampbit: A neutral live-cd does not include any Bitcoin-related software. Fetching such software would be as insecure on a live cd as on a normal computer (maybe even worse as you would have to do it over and over again). I tried to minimize my Bitcoin-specific contribution so people can verify it.