For now x86 base factory, 11.2
Command line tool "osc" (try to get a not too old version) and build tool (for debian: http://download.opensuse.org/repositories/openSUSE:/Tools/Debian_5.0/all/build_2010.02.02-1_all.deb). For Suse install packages osc and build.
To get the project:
osc co KDE:Netbook
KIWI - creating the iso
As base we use KDE Four Live. The description what will be built in the end is in the kiwi file.
Find it in your checkout in KDE:Netbook/plasma-image/kde-four-live.kiwi
For more documentation about KIWI, see here: