Mini-WinFE project has changed this. Creating a Forensic Live CD with Mini-WinFE is done in a few mouse-clicks. Windows 8 and 8.1 also appear not to write a drive signature to the wire-protected disk.
From my experience Windows 8.1 Enterprise based Live CD has some issues when adding custom programs to it. The Win 8.1 Pro version works perfectly well.
The boot time is about a minute longer compared to Linux based Live CD's but you get driver and app flexibility with Windows.
TrueCrypt is missing in the default app selection. I had to spend a half an hour to fix it.
Below are scripts to add TrueCrypt 7.1a to the Live CD.
TrueCrypt must be downloaded first and extracted, not installed on the machine (though it may work also, but I haven't tested it)
TrueCrypt.script must be placed to \Mini-WinFE\Projects\WinFE\Programs folder
MD5 (TrueCrypt.script) = 383c5a68888e258f0954c009f813b3ed
To add TrueCrypt to the program menu, download and replace bblean1.17.1.script located at \Mini-WinFE\Projects\WinFE\Shell.Then.End
MD5 (bblean1.17.1.script) = 75115b21edf70501fe329cb911c80e66
Then just follow the instructions to create your Forensic Live CD and you are done.