I have found the Jaguar Boot CD maker a very useful utility, try and make it on a fairly new computer if at all possible as this takes much less time than on an old one. I reccomend you set as high a ramdisk as you can (use your discresion) regarding the amount of ram you have available as this will become useful for running the apps placed on the CD on creation. Bear in mind it will take a very long time to boot from an optical drive, especially on an iBook, mac mini or G3 or G5 imac (anything with a slot-drive). The superdrive in the eMac takes a while to load it.
You may get confused with adding applications, don't be, it will propt you (the icon will jump on the dock) to add your apps and you can select them one by one and pressing the open button, again, once it has added the first one, it will prompt for the second and so on, remember you can use a USB or firewire device with apps preloaded if you wish whilst it is booted. This is a much better option as CDs only have 700mb storage