1) http://www.slac.stanford.edu/comp/unix/linux/install_RHEL6.h...
I used to do that too, but then I figured there's a constructive use I could give to my old desktops when any such system reaches the age of replacement - just max it out on RAM and declare it a "home server". Now I can run a Minecraft node for my kids on it - with 2GB of Java heap, no less.
I mean, my Raspberry Pi has more than 128 MB of RAM.
Lots of RAM - like chicken soup for your server.
There used to be a Fedora equivalent called febootstrap, but it looks like it's mutated a bit since then: http://people.redhat.com/~rjones/supermin/
You may be able to work around it that way.
Out of interest, what machine are you using CentOS 6 on? I find 128mb kinda tight - although I've recently found a VPS provider who's managed to get Debian Jessie working in 96!
I've handed that off now, but the project is still very much alive:
The good news is BuyVM just announced they are preparing a CentOS 7 image, so the installer RAM limit may not matter.
You are right that 128mb is a bit tight, I have problems with some services that just gobble memory. Apache+PHP are terrible in that regard.
I don't even know if they have an ARM port (maybe an ARM 64bit for those new hip low wattage ARM microservers).