Minimal LaTeX equation renderer on Windows (stripped MiKTeX?)

I'm successfully using MiKTeX to render LaTeX equation strings to PNG. However, the distribution of MiKTeX is really large (~360 MB for the uncompressed portable version), and I need only the equation rendering. Is there a stripped-down version of MiKTeX that eschews support for other features? Or is there stuff that I can remove safely and easily without breaking the equation renderin开发者_C百科g? (dictionaries, hyphenation stuff etc. comes to mind).

I'd really like to use MiKTeX or equivalent, since the quality of the output is critical. For example, I've messed around with JEuclid using MathML and the results were totally appalling in comparison. Of course, it may be that I did something wrong, but ...

If you need only an equation renderer and you mind about installing big distributions, you can use some of the many web services provided on the internet. For example, at work, where I mind about installing big software ditributions, I normally use this php online equation editor which is pretty good.