Do you think I can fit an entire album, pdf lyrics to all of my tracks, a photo album and a music video on a flash drive lower than 1 GIG?

I.M.H.O. it should be possible. The average cd is up to 700MB. That leaves 300MB for video & photos. I just looked up a video on itunes and the size was 40MB for a video that was 3:24. That would still leave around 200MB for the photo album. (leaving 60MB of breathing room). It comes down to the size of the photo album and what you're using to create it. Images themselves don't take up that much space.

I'm sure other people would have other opinions or suggestions....

Is this for distribution?

A full length CD is 700MB of uncompressed sound. If you used high quality MP3s, that could be knocked down to under 200MB.

I just checked a pretty hi-res (1152x864) JPEG on my computer. It's 272KB. File size will vary depending on the actual content of the picture and the quality settings you use, but let's say it would be 0.3MB per pic. 20MB would be a generous amount of space - enough for 66 pics at that size.

PDF's of lyrics wouldn't take up much space at all. IMO, html files would be better, and I think (not positive) they'd be even smaller than PDF's. Let's say text would take up 1MB.

Video's the wildcard here. Depending on quality and the codec you use, the size can be anything. I would probably put the video on there in 2 formats - WMV for Windows users and Mpeg4 (.mov) for Apple folks. 40-60Mb is probably a good range to shoot for with those formats, so let's say 120MB total for video.

200MB audio
20MB pics
1MB text
+ 120MB video
---------------------
341MB

So, hells yeah, you can even fit it on 512MB drive. My estimates are all on the high end, so if you work at it, you should even be able to get it down to a 256MB drive.