Creating a LiveCD

I’d like to create a livecd from my existing installation which I updated with kde4.2 and compiz-fusion, some workarounds to solve emreald titlebar issues and all.
So if I need to reinstall opensuse sometime in future or if I want to install it to some other computer, I can restore it as it is and avoid that lengthy downloads and updates instead of repeating it again and again…

Is there a way to convert or copy my existing installation COMPLETELY WITH ALL THOSE STUFFS (and no extra stuffs) into a livecd or similar ???

Any tutorial like things will be good as I’m new to linux and I hate doing all these lengthy updates again and again at each installation…

Kiwi will allow you to create a custom live CD, but what you need to back up your system is a disk image program such as partimage. You might use Kiwi to create a live CD including partimage and use that to back/restore your system and data.