I have Fedora 11 on the 8GB Lexar Expresscard 34 I put in my UI 3520.
I used this
https://fedorahosted.org/liveusb-creator to install a Live CD image "with persistant storage creation".
Now when I want to boot to Fedora all I have to do is change the boot priority to the Expresscard in the bios.
First time I booted up wifi worked but I'm greeted with a slightly alarming "One of your discs is failing" (refering to the 60GB HD) which I'm hoping is just a bug.
You don't need an expresscard though, you can use a USB memory stick.