How about using Norton/Symantec Ghost? Just install the OS, applications, and set your preferences accordingly, and boot from the Ghost (floppy) disk.
You can image a disk or partition to multiple CDs, and make the 1st CD bootable, so you would just boot from CD1 and swap discs when prompted for a full installation with your specific programs.
This is all assuming you plan to restore the image to one PC. If you plan to install this image onto several PCs, then there are a few additional steps that you would need to make first.