There's a number of things you can do man...
Compile a new kernel (modules configured to your specific hardware etc)a lot of times is the best way to reduce the size of the kernel.
Another way is to find out which services you are running. Decide which ones to eliminate and then stop them from running on startup. You can do this with DrakConf or by hand-editing a few files.
Use Google (
http://www.google.com) like you would use Ask Jeeves (I know I do!) and you'll be surprised how quickly you will find answers in detail to problems like these.
Good luck!
