You rock!
Added improvements to script: cache the fonts, run ldconfig and set the timezone so you don't get "timezone is not set" message if date it called.
I do some other tweaks also so my terminal will let me know it's a chroot so I don't get confused. I setup my slaptget-rc, update slapt-get, install requiredbuilder or anything I normally use. I even plop a couple templates in there. Then I make a lzma out of the whole thing. So it's a delete and extract... get to work.