LFS meets goals AND constraints?

LFS has reputation for being small {various definitions of small} 
and educational.

I find Windows excessively paternalistic and "one size fits all" 
doesn't fit.
I was initially pointed to Ubuntu, still too mass market.
Debian seems flexible with a wide selection of precompiled 
modules. An important feature is friends use it or a derivative.

However, some of its flexibility is achieved at the cost of 
installing too much that will never be actually used. My reading 
suggests a suitably lean and flexible system could be created 
using tools such as debootstrap/multistrap and apt-get.

But I need a better understanding of how the pieces of a Linux 
system work together. Being retired, time is not a major constraint.

QUESTIONS:

1. What version(s) of use SysVinit (systemd not wanted)?
2. Will working through LFS give an understanding of dependencies?
3. I have a *PHYSICAL CONSTRAINT* - dial-up internet access.
    A. Live-CD would seem appropriate. Though considered "dated", 
is it commercially
       available somewhere? Does an image exist on the WEB (high 
speed internet
        being available at local library)?
    B. Are all source packages available as a single package?
4. Are there important questions I haven't thought of?

Thank you.




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