If you want to generate a custom Debian live CD, including only the tools you want (and maybe additional tools you don't find in other live CDs) there's a really simple solution: live-helper.
Creating a basic bootable Debian live CD ISO image in the current directory is as simple as:
$ lh_config $ lh_build
That's it. The result will be a file called binary.iso, which you can either burn on a CD-ROM via
$ wodim binary.iso
or test in QEMU using a command line like this:
$ qemu -boot d -cdrom binary.iso
Of course there are many possibilities to customize the generated image to your likings, see the documentation in the Debian wiki, or the lh_config/lh_build manpages.
Please note that live-helper can not only generate CD ISOs, but also bootable DVDs, images for USB thumb drives, or netboot images.
There's also a nice GUI called live-magic which will make the process a bit easier if you don't like doing things on the command line.