Parted Magic is a ~30MB LiveCD/USB/PXE with its elemental purpose being to partition hard drives. Although GParted and Parted are the main programs, the CD/USB also offers programs like Partition Image, TestDisk, fdisk, sfdisk, dd, ddrescue, etc...
If filesystem tools are what you are looking for, Parted Magic supports the following: aufs, ext2, ext3, ext4, fat16, fat32, hfs, hfs+, jfs, linux-swap, ntfs, ocfs2, reiserfs, reiser4, xfs, and zfs.
The latest version is updated with: Linux-184.108.40.206, parted-1.8.2, ntfsprogs-200702071432 with Vista support, ntfs-3g-1.0, and GParted-0.3.4.
The current Xserver is Xorg-7.2 with the following drivers: apm, ark, ati, atimisc, chips, cirrus, cyrix, glint, i128, i740, i810, mga, neomagic, nv, r128, riva128, radeon, rendition, s3, s3virge, savage, siliconmotion, sis, tdfx, tga, trident, tseng, vesa, vmware, voodoo.
Parted Magic is the continuation of the GParted LiveCD project that I originated (GParted LiveCD versions greater than 0.3.3 are now the work of LarryT), and falls under the terms of the GPL.