Well that's good news: Server Core changes in Windows Server 2008 R2
Server Core will soon allow ASP.NET and PowerShell to be installed as options. They've partitioned the .NET framework and only install those parts that are needed (presumably to remove those parts that depend on the UI). I haven't seen any details, but I expect that things in the System.Drawing space may not be there either.
This is good news for people with a farm of web servers, and also for those that want better management of their server core installs.
Kirk
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Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.