Just make your own partitions, and copy the files out onto yours. Match the UUID's used and you are all set. I've done it before, just never released it.
Remove the swap sure, i had swap on as a short term thing, but it never needed swap, so most users just remove the swap entry from /etc/fstab and live their life.
I tell most people now just to flash the 4 gig image onto an 8 gig card, its like $3 dollars difference whoodee do.
I haven't had much time to spend on PlugPBX as of late, and the thing works flawlessly with good SD media, so I am not hugely motivated. The bigger saver for flash card usage is the application of the flashybrid setup, which is detailed deeply on the forums here.
You could also likely re-size the partitions for a smaller SD card - if someone does that and removes the swap mount / partitions, i'm happy to host the 'modified' SD card image here - I always hoped that more than just myself would perhaps contribute back to what I started - I can't do all the bloody work all the bloody time ya know

The images, the site, the content, the hosting - its all my time and costs, donations are not exactly covering my out of pocket costs... I hope that if people see room to help, they can contribute back - im not complaining, im happy to have shared this hobby out... just saying feel free to get your hands dirty and help.
I'm sure I'll get motivated again some day to redo all this stuff, but when something works as well as the first release, I tend now to fart around with it - its been running flawlessly for 2 years in my home off the same SD card now (minus the sheeva needing a new PS since it was a first gen unit)