How to strip a Linux system?

I've been building a Linux distro, and I've stripped the binaries, etc. The system won't use GCC or development tools, as it will be a Chrome kiosk, so it would greatly help if I could strip down the system... I was wondering, is there a way that I can delete all of the unused system files (like binaries, etc.) by watching what files/libraries are used during runtime? Maybe another method is preferred, but is there a way to accomplish something like this?