This is how I clean up older kernels and kernel modules.
To remove modules:
Code:
rm -r /lib/modules/VERSION
where VERSION is the kernel's version of which I am removing
To remove the kernel itself:
where KERNEL is your old kernel whether it be named vmlinuz-VERSION or bzImage-VERSION or etc.
Remove the System.map-VERSION from the /boot directory (assuming if anyone still copies their System.map file into boot)
Remove or comment out the lines to boot that old kernel in lilo.conf or GRUB's menu.lst
Finally, remove the old kernel's source directory (though I'd recommend holding on to the sources that came with your distro-supplied kernel). Usually after extracting and building a kernel from source, you're left over with a kernel source directory that can be hundreds of megabytes large. So if your strapped for space look in your /usr/src directory for any old uncompressed kernel build directories
.
EDIT: Don't delete the source dir for your current kernel. Some software that is custom compiled will often check (i.e if you're building 3rd party modules).