I've just purchased a new 32GB Kingston DataTraveler Flash Drive, and have made it my "maintenance utilities" bootable drive:
These are the easy steps I took ...
1. Formatted the DataTraveler Flash Drive for "OS Extended (Journaled) volume.- GUID Bootable.
2. Next, I installed Mountain Lion 10.8.3 on the drive as (1) partition (Using Apple Disk Utility).
3. Plugged in USB Flash Drive, in to iMac.
4. Holding down the "option" key, selected my 32GB Flash Drive (among start up icons displayed on screen).
5. Waited a few minutes for the Flash Drive Mountain Lion to launch a new desktop.
6. While Mountain Lion 10.8.3 was up and running, I went into "System Preferences" and did an update to Mountain Lion 10.8.4 while I was at it (updated right to the Flash Drive).
6. Then, in the Flash Drive> OSX> Applications Folder> installed both DiskWarrior 4.4, and DataRescue 3.2.2
7. I made an "alias" of each the DiskWarrior 4.4, and DataRescue 3.2.2 icons in the Application Folder.
8. Placing the DiskWarrior 4.4, and DataRescue 3.2.2 "alias" icons in a separate labeled "save" folder on the Flash Drive HD.
9. Then, dragged "copies" of the DiskWarrior 4.4, and DataRescue 3.2.2 "alias" icons on to the dock.

10. I now have ONE easly accessible Flash Drive that I can now plug in, and run all my "maintenance utility" programs for my main iMac HD. It works great, and best of all .... no long loading times for bootable maintenance discs like DiskWarrior, etc.
This is the way to go .... and I can easily update any of the "maintenance utility" programs on the Flash Drive, by simply deleating them, replacing with newer versions, or updating right on the Flash Drive.
NO MORE ISSUES/PROBLEMS WITH BOOTABLE DVD's or CD's TO LOAD !!!!
THIS DEFINATELY IS THE WAY TO GO ....