Fedora 4 on a USB drive --> Using on multiple computers

[chrisl at xp.etowns.net]

I currently have installed Fedora Core 4 on my USB drive. I currently 
use this to boot into Linux on my Dell D800 laptop. Everything works 
great, however I would like to use this usb drive on other machines. My 
desktop is a Dell Dimension 4700. I haven't tried booting the USB drive 
on the Dimension yet. I feel that the following things will happen.

1. The OS will detect the hardware change and will load the appropriate 
drivers for the system. It will also ask me if I want to migrate my 
ethernet settings to the new ethernet device, and it will also ask me if 
I want to remove the old drivers everytime I switch machines.
2. My D800 has a Nvidia video chipset and I have the Nvidia drivers 
loaded. My Dimension has a ATI video card. I would like to have the ATI 
drivers installed on the usb drive as well. I would need to have two X 
conifgurations, or I would need to be able to pass this onto the kernel 
at boot time (using grub?)
3. The keyboard settings will be different between the two machines
4. Sound settings will differ, I do not know how ALSA will react.

I know this should be possible, as I have seen Knoppix and hotplug in 
action.

Has anyone successfuly done this? Any advice would be appreciated.