As part o fmy VGA PCI passthrough testings, I wanted to install esxi on a USB stick.
After failed with several solutions (including lili usb creator, which works for 5.0) I found the following site that did better than putting the ISO on the USB stick: it literally installed esxi on the usb stick:
http://bitterbuds.blogspot.com/2012/01/how-to-install-vmware-vsphere.html
This might work for 5.0 as well but no time to test it yet.
The only problem is, I am not able to set up a datastore on it 🙁 so guess I’m back to finding a sata hdd.