Actually pieced together the answer (see below) - but it would be a lot more helpful if this information was put somewhere easier to find.
Thanks Icecube. I was looking all over for directions on how to do this and between this thread and this one: viewtopic.php?t=1608&highlight=ubcd2usb
from you I figured it out and created my usb key.
The directions on the main site are really lacking considering on the main site it sounds like you can just open the bat file from windows explorer and bam, it does it for you.
Speaking presumptively for anyone else who does not have the patience to comb through stuff like I did, it would be great if you combined these two posts and turned them into a 'how to create a UBCD on USB for dumbies' tutorial and had it stickied and linked to from the main page.
Thanks so much,