LFS is great stuff. Its focus on good documentation is wonderful.
However, once you learn what LFS teaches, and you want to use it in a production environment, you really want to have an automated build process stored in a source code control system, not a book. (At least I do. Having an automated build means being able to sleep at night without worrying you forgot a step...)
It's worth mentioning two projects with similar "build it all from scratch" goals as LFS, but which focus on automated rather than manual build.
ptxdist is a tiny, 100% cross-compiled distribution of Linux by Robert Schwebel. Without any chroot'ing or rebooting, it builds an entire small Linux system from pristine source tarballs with the bare minimum set of patches.
crosstool is my smallish shell script that builds a gcc/glibc toolchain entirely from pristine source taballs with the bare minimum set of patches. It supports most recent or interesting binutils, gcc, and glibc versions, and just about every CPU type glibc supports. If you're so inclined, you can easily use it to build Linux-targeted distributed compile farms regardless of whether your workstations run Linux, Windows, MacOSX, or Solaris. Lots of folks who normally would prefer downloading a precompiled toolchain are finding that it's easy to build their own with crosstool.
The two independent projects share a common patch repository containing just the bare minimum patches for gcc, glibc, and binutils to get the toolchain to compile and work (many are simply small patches pulled from the upstream cvs).
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