I run the image off a pen drive without too many issues!
If you have multi boot all is good...
This is how I created my pen drive boot.
I assume you have e2 in flash
You will need to be able to FTP your box, and use putty...
I use putty for the next bit.
User: root
Password: HDMU
To create a partition on the pen drive
mkfs,ext2 /dev/sdb1 -L ext2
Then copy your downloaded file into this directory via FTP transfer (tar.gz on this site)
Back to putty...to unpack the file
mount dev sdb1 /mnt/usb
Then use putty to unpack the file...
cd /mnt/usb
tar -vzxf *****.tar.gz (then the full name of the image)
then...
sync
remove the image using FTP if required.
Start your box using the correct key number on the remote. Set-up the image as per the instructions
Cheers