Portable applications from a microdrive?

I'm about to receive a 4GB Hitachi Microdrive to fiddle around with.

I was tempted to install an OS onto it until I read up on the limitations.
Has anyone tried actively running portable apps from one of these babies?

I have a 4GB Sandisk Cruzer Micro that I'll be comparing it to.
Although they are by no means in competition, it would serve as an interesting comparison.

Hitachi Microdrive:

Data buffer: (KB) 128
Rotational speed (rpm): 3600
Latency (average ms): 8.33
Media transfer rate (max. Mbits/sec): 57.1 - 97.9
Interface transfer rate (max. MB/sec)2: 33
Sustained data rate (MB/sec): 4.3 - 7.2
Seek time (read, typical) Average (ms): 12
Track to track (ms): 1
Full track (ms): 22
Error rate (non-recoverable):