I recently installed Lubuntu from the latest alternative disk http://cdimage.ubuntu.com/precise/daily/current/ as a minimal install by installing it to command line.
Then I installed lubuntu-core
sudo apt-get install lubuntu-core
It then had none of the extra software install. Originally I tried with --no-install-recommends but this left it too bare and seemingly with missing dependencies.
After doing this
I installed lxappearance and obconf to allow me to change the themes easily
sudo apt-get install lxappearance obconf
I installed firefox without any recommended software as the addons are for Gnome.
sudo apt-get install firefox --no-install-recommends
I had some errors in my xsession-errors file that cleared up after installing the below
sudo apt-get install gtk2-engines-pixbuf
Network manager needs setting up after lubuntu-core has been installed from a minimal install https://help.ubuntu.com/community/Lubuntu/Documentation/MinimalInstall#Unmanaged_Wired_Network The nm-system-settings.conf is now called NetworkManager.conf as written below
Change Network Manager settings
Start an LXTerminal session, then issue:
sudo nano /etc/NetworkManager/NetworkManager.conf
In section [ifupdown] find the line managed=false and replace it with managed=true. Save and quit.
Get back to LXTerminal and issue:
sudo service network-manager restart
After a short while you should see "Connection established" message above the Network Manager applet tray icon.