presently i am by using this XAMPP Lite 1.7.3

  + Apache 2.2.14 (IPV6 enabled)
  + MySQL 5.1.41 (Community Server) with PBXT engine 1.0.09-rc
  + PHP 5.3.1 (PEAR)
  + Miniperl 5.10.1
  + XAMPP Control Version 2.5.8 (ApacheFriends Edition)
  + XAMPP CLI Bundle 1.6
  + XAMPP Port Check 1.5
  + XAMPP Security 1.1
  + SQLite 2.8.17
  + SQLite 3.6.20
  + OpenSSL 0.9.8l
  + phpMyAdmin 3.2.4
  + msmtp 1.4.19 (a sendmail compatible SMTP client)
  + Webalizer 2.21-02 (with GeoIP lite)
  + Ming 0.4.3 for PHP
  + PDF with pdflib lite v7.0.4p4 for PHP

Will i need each one of these things only for making and testing Wordpress Theme? Can there be every other good lightweight alternative with only needed things?

What factor required for Wordpress development only?

take a look at Z-WAMP. The constituents tend to be more up-to-date compared to specs you pointed out above. And they've the minimum essential to run Wordpress. Also portable and just 18MB download.