Create a smaller sized installation of XP?

[greencode]

I need to run two copy's of XP - one for IE6 and one for IE7. The thing is I've cloned my original installation and the size of that is around 2.7gb. I only need the second installation to run IE7 and absolutely nothing else.

Is there anything I can do to make it smaller?

 

[John@Parallels]

Uninstall all unnecessary software, run Parallels Compressor

 

[greencode]

Where do I find Compressor? I've gone to the Actions menu but the "Run Parallels Compressor" is greyed out?

 

[greencode]

Oh sorry, I hadn't started the XP OS. I have now and it's showing up and functioning correctly.