I created a document in A5 size and managed to reshuffle the pages of the produced .pdf output with psbook, so that the pages have the perfect order for a booklet.
There are lots of hints that the next step would work with psnup, but that's not true. I also tried a2ps and pstops with various options. The last thing I found was bookletimposer (Ubuntu), but it has failed as well.
It seems so easy, because no scaling and no rotating is involved. Just put one page @ position 0,0 and the following on @ 0,14,85cm (half the height of the A4 page).
input:
+----------+ | this is | | page one | +----------+ +----------+ | this is | | page two | +----------+
output:
+----------+ | this is | | page one | | | | this is | | page two | +----------+