I rally don't know why people call these 'disros'. They're not. They're liveCDs populated with software you want to run, or PXE or USB, etc.
The same thing is available at instalinux.com - spin your own liveCD? NO! They call them distros, and their not. The distros are Ubuntu or Deb or Fedora, etc.,
Even LFS isn't REALLY building your own distro - it's building your own UNIX system with the Linux kernel.
In order to build your own distro, what you need to take into consideration is this:
1.) it must have a method for distribution. i.e., an installable CD (or bootable media that connects to an NFS or FTP server, etc.) with an installer that when 'distributed' to people in the marketplace, allows those users who bought or downloaded your distro to boot their machine, partition their hard drives, select software, and then actually install the operating system onto their hard drive - like a Windows install CD or a Slackware install CD/DVD.
2.) You *should* have a package management utility, so that the people who procure your distro can at anytime install, upgrade, or uninstall software packages.
3.) You should maintain the distro - meaning that as new kernels come out and new versions of software, the next version of your distro will have those components as part of the installation of the OS.
LFS is a good start for building yourself a distro from scratch, or you can begin with and existing distro, say, one that is RPM based, or one like Slackware or Deb based, and then you need to think about what kind of package managment system you want, and adapt or create one yourself.
Finally, what kind of installation system do you want? There is the Slackware installer, Anaconda (The Redhat based installer), and Ubiquity, for starters.
Otherwise, what your faced with is a live CD that is tied to a particular architecture or is really just a customized install of Suse or Fedora or Ubuntu. That's not a distribution, because a distribution itself is meant to be distributed with software that the user chooses.
To use Suse Studio, you are merely creating a custom installation of a Suse system containing the software you have decided to run - Much like Slax or Instalinux.
Even PuppyLinux has a feature so you can remaster a custom version of it - again, this still is not your own distro.
For information on actually creating a real distro, The links below should be of particular interest:
http://fedoraproject.org/wiki/Anaconda/BuildDocProject or
https://wiki.ubuntu.com/Ubiquity or the Slackware Installer system will work for what you want.
Anaconda, Ubiquity, and the Slackware installer each will let you do this (with non-trivial effort, but then again LFS is a non-trivial endeavor in and of itself so it won't be a problem by the time you finish your LFS), with the addition of more compiled software on your LFS (which you can glean from the requirements of the three installers mentioned above).
This question gets asked quite OFTEN. So I decided to round up a few of the threads that addressed this question for future people who search for this answer in the hopes of providing them with the info they've asked for.
The home page for Anaconda and the section that references specifically what you are asking is here:
http://fedoraproject.org/wiki/Anacon...ution_Builders with some required reading here as well:
https://fedorahosted.org/pungi/
You can get some nice screen shots of what Anaconda can do when incorporated into a distribution of your own by visiting here:
https://www.scientificlinux.org/dist...installan.html
I hope that helps distinguish the difference between an actual distro and a simple remastering of a distro (that lets you put your name on that particular spin of "their" distro).