Well you would install Windows like you normally do. Would log in in a special way called audit mode, you then install all the updates you want. After that you sysprep and shutdown. On another computer you would use WAIK, Windows Automated Installation Kit, to capture an image of the OS you just setup and put into a WIM archive. You would of course have to do this for all versions.
Here is a guide which is close: http://blog.brianleejackson.com/sysp...t-to-finish-v2
I personally just save myself the trouble and use per-integrated SP1 images from Technet.