HD Install :: DSL on a 60Mb CF Card

Hi,
I'm a futur DSL user (cause it doesn't really work yet   )

So, I've just bought an Via Epia mini-ITX Motherboard (so great full) and I would like to use it as webserver, samba server, cups, multimedia player...

I think that DSL could be a good beginning.

So, I've an IDE -> CF adaptator and a 60 Mb Compact Flash Card. I've seen that I need 300Mb for a HD install. But is it possible to install the compressed version (like on the CD or on an USB key) ?

Thanks for your answer and you job !!!!