yes still good, but...... there is a script floating around that possy made to make a chroot environment, was easy to use.
i just used a clean ubuntu install on virtualbox and than made a chroot build on it.
BTW, make sure you make your hard drive big enough, it probably needs to be 60Gb+ or even 80Gb so, i ran out of space on my 40Gb and it's difficult to expand the hard drive space on virtualbox.
On a side note to save some space, don't make the cd1 and cd2 iso's
I build mine in a virtualbox and it's good to go now, even got the apache server working going out.
Now i'm trying to make another vm to test the build.