Sometime Today, Raju Bathija assembled some asciibets to say:
VFS: Mounted root (ext2 filesystem) readonly. Freeing unused kernel memory: 236k freed hda: dma_intr: status=0x51 { DriveReady SeekComplete Error }
You may have one of those buggy hard disks that you are warned about in the documentation - somewhere in ide.txt I think. Basically, dma in the 2.4 kernel has problems with some ide chipsets, and should be disabled.
Either do that through the kernel (recompile), or use hdparm in your rc.sysinit script:
/sbin/hdparm -d0 /dev/hda
Philip