Can you use the arduino usb2serial lite as a ISP

Like Crossroads said, it could be doable. The Arduino USB Serial Light adapter is based on the ATmega8U2 chip. And it has the DFU bootloader on it. So you could load a modified ArduinoISP on it with the Atmel FLIP software. The only thing would be to change to code to use the right pinouts on the 8U2 chip. Then it could run as a ArduinoISP.