In UBCD50RC1 MEMDISK and MEMDISK-ISO are not the same.
The normal MEMDISK in UBCD50RC1 doesn't support ISO's
The MEMDISK-ISO version is based on the normal MEMDISK (except 2 patches) + ISO booting patches.
In Syslinux 3.84 or higher, MEMDISK supports ISO's (no special version anymore). So in the next UBCD50 release, there will be only a MEMDISK and no separate MEMDISK-ISO.
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Download
Ultimate Boot CD v5.0:
http://www.ultimatebootcd.com/download.htmlUse
Parted Magic for handling all partitioning task:
http://partedmagic.com/