one has to use fmtutils now.
Or tex -ini, as Heiko said.
But the defaults in current TL are quite large, as Heiko also said,
so I'm surprised you need to change anything.
heiko> It isn't deleted.
Well, it is deleted in the sense that there is no separate "initex"
command; it was removed as of TL 2004. I'm not sure why, to be honest.
I still miss it.
k