IBM do something similar on their web site. It auto-detects your hardware configuration and chooses which drivers you need. Of course, you need an OS already installed to do this, and it only works with Windows. But then, with XP it's fairly easy to get a machine up and running on the net quite quickly. With most common chipsets you don't need to install network drivers.
Nice idea though. Would be great for Linux: just tell it what model your machine is, fill in any gaps in the hardware configuration, and it makes a bootable installation disc with all your drivers on it.
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moto
