Speed3,
The easiest thing would be to create a folder on the hard drive and just drag the entire contents of the DVD into that folder, move the hard drive to the netbook and launch (double-click) the SETUP.EXE program in that folder. That should get it done.
Second easiest is if you have a wireless network at home and could share the DVD drive on your Mac over the network. Stick the Mobile PC DVD into the Mac's DVD drive and run the SETUP program from the netbook.
If you can't do either of those, the ISO route will work. I use
MagicISO on my netbook. It does a whole bunch of stuff but I mostly just use it as a virtual CD/DVD drive for running ISO files. Use whatever software you need to create the .ISO image on the Mac, copy it to the removable hard drive or over the network to the netbook and use MagicISO or some other virtual CD/DVD drive program on the netbook.
...ken...