Ok, thanks to olePigeon's help I was able to get this going.

And I didn't have to boot from another disc or anything which was awesome.

So I ran it on a 1st Gen Sandisk flash drive and hit a peak read of 701 and a peak write of 753Kb/s.

I'm going to run it next on a Ultra II Sandisk which says 15MB/s on it.

I have a 30MB/s card as well - unfortunately it's 4GB and any drive formatting utility only ever sees it as a 64MB partition. If anyone knows how to get around that I'd appreciate hearing about it.