you might be pushed to get it onto a "CD" as R9 32 bit weighs in at 711mb for the iso.. The more challenging "Microwatt" will fit onto a "CD" as its 586mb for the iso.
If you do not have a dvd drive on the computer, then you might be restricted a little bit as the full fat's need the iso on a "DVD" or possibly you might be able to burn the iso onto a usb stick and install that way.
But otherwise.. yes you can make a live cd. when you burn the image to disc (correct software needed) it burns as a Live CD in anycase for you to trial before you click the "Install" from the live menu
wireless is dependant on your wireless adapter.. printers we can discuss on this forum as we would need to know make etc