You could not run it off a cd, mysql needs to be able to write to files, as does apache.
Hm, good point.
Thinking further, you could run the server side apps (apache, mysql) off of the CD, and use a USB memory stick for the database, vB files, etc. It'd be a bit of a chore to setup, but I think as long as everything stayed pointing at /dev/memorystick (or whatever) it could be doable.