UBCD V4.0 beta 1 is now available at:
Those of you who are interested, please help me test it and email/PM me your results.
The file size is about 90MB.
Basically, in V4.0, I have switched over to syslinux V3.36 (because cdshell has not been worked on for a long while). This version also incorporates a modified version of UBCD2USB and can be directly written to a USB memory stick! Check out tools\ubcd2usb. Everything on the UBCD seems to work when ported over to a USB memory stick, so it is quite nice.