It's called "Bart's Preinstalled Environment (BartPE) bootable live windows CD/DVD" but it's actually a tool to create live cd out of your windows xp installation files. The native NTFS support and live cd approach make it a best candidate to do virus cleaning, rescure files etc.
The created basic live system is a little bit too simple but the tool give you the power to add applications by plugin into this live cd so it's really up to you to extend the usage of your live cd.
There are a lot plugin repositories available with applications from hard disk partitioning to wireless hacking. So you can create a Anti-Virus/Spyware, Rescure CD as well as a network security cd.
I created one live xp with firefox, explor2fs and putty. Good enough for my daily work.
Tips: You need to enable "RpcSS needs to launch DComLaunch Service first - SP2 only" in plugin, otherwise disk management will not work.