Fairly standard build is 375K.
Dynamically linked with libc, libm and libcrypt.
Similar utilities in normal distributions take up 5788K (also dynamically linked). Admittedly, some of these are not stripped of debugging symbols.
Sadly, glibc is about 8418K, so the above savings are almost lost in the noise.
Statically linking against glibc gives a binary that is 952K in size.
This binary includes tools that act similarly to GNU versions of:
[, addgroup, adduser, ash, basename, bunzip2, bzcat, cat, chgrp, chmod, chown, chroot, clear, cp, cpio, crond, crontab, cut, date, dc, dd, df, dirname, dmesg, du, echo, egrep, env, false, find, free, grep, gunzip, gzip, halt, head, hostname, id, ifconfig, init, insmod, ip, kill, killall, klogd, ln, logger, login, ls, lsmod, md5sum, mesg, mkdir, mknod, mktemp, modprobe, more, mount, mv, nc, netstat, nslookup, passwd, ping, ping6, pivot_root, poweroff, printf, ps, pwd, rdate, reboot, reset, rm, rmdir, rmmod, route, rpm, sed, sh, sleep, sort, start-stop-daemon, su, sulogin, swapoff, swapon, sync, syslogd, tail, tar, telnet, test, time, touch, tr, traceroute, true, tty, udhcpc, umount, uname, uniq, uptime, uudecode, uuencode, vi, vlock, wc, wget, which, who, whoami, xargs, xrc, yes, zcat (116 utilities).