Build complete Distro with LFS

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http://unix.stackexchange.com – I want to build distro(x64) from source with LFS.Which include default third party tools & tools from different linux distro.I have following questions. 1.Can i buil with LFS? 2.Using LFS can i make Live CD which must run on any intel/AMd(x64) or i can distribute to my friends and they can install on there PCs. 3.Is LFS good way to do this or any alternative? 4.Any hints and suggestion are wellcome to do this stuff. (HowTos)