I was just wondering as it has been awhile since I tried Gentoo and at that time it required having to build it on install, spending hours while it all compiled, and now I had considered trying it again on a new computer that can better handle it. I don't even see the option listed as a build distro and just more like the rest with using the liveDVD to install.

Have I miss seen there current status on it or has it just come that far over the past 4 yrs since I last tried it?

If I was to try and custom build for my system is that even still an option and where can I find a list of all the required tools and packages that I would need to have installed preset-up build environment?

Gentoo is a meta-distribution, it provides you with tools to build your own unique Linux. Newcomers may use liveDVD to install, old hands use whatever is handy, most folks have SystemRescueCD on a USB stick and use it for install.

Gentoo still requires you to build it. If you don't want that, then you don't want Gentoo.

You have alternatives like Sabayon, and probably many others, which still allow you to -somewhat- use portage, but provide a prebuilt distro which is based on Gentoo.

Note however that Sabayon and alikes ARE NOT Gentoo, and, as such, they are not supported by the Gentoo community, since the changes go as deep as the portage profiles and the toolchain...

If you want to install Gentoo, then all you will need is the Handbook and a recent enough linux boot media for the concrete architecture you want to install on (it doesn't really matter which one).

A link to the handbook should be accessible in my signature.

There is no prebuild system of Gentoo.