Yes, it's possible to compile a custom build of the controls.
First, you need to have a license for downloading the source of the control.
After loading the solution, navigate to the skin folder in the Web.UI project and exclude all the skins you do not need. You could exclude the Web.UI.Skins project as well.
Then you can exclude all controls you are sure you are not going to need and build the project for release.
Have in mind hat some controls require other. For instance, the grid control requires the combobox control and so on.
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