Kadischi is still in the early stage of development, but has basic functionality and can be run successfully.
Kadischi uses Anaconda, then it executes a collection of scripts in order to modify the system to run successfully in read-only environment, then it creates an initrd image and compresses the system tree; finally it creates iso image of the system.
Usage:
kadischi path-to-the-repository path-to-the-iso-image(See the previous article [2] to learn how to create your repository)
Kadischi is only available via CVS, if your CVS port is blocked, you may download it from here [3].
Project Page: http://www.fedoraproject.org/wiki/CategoryKadischi [4]