it might need some arguments when booting your machine, that are passed to kernel, if there are such things. when I last time recompiled my kernel, I happened to see the power management/saving options too...there were some text about that on some machines, certain power saving options cause problems like yours, and on those machines, the kernel options should be changed (when compiling, either take the module(s) off or were there even some thing that might help if enabled? I can't remember..) in order to get them function properly.
if this is your problem, which I'm not totally sure of, then it might help to try and pass the argument apm=off to your kernel at bootup...that would disable the power management thing, so that you would see if it helps
or, if you are interested and it's not a problem to recompile a kernel (which isn't that bad), you might - especially if the trick above works - do the recompilation and remove apm...but try the apm=off argument first.