Thanks for your reply. I am running RH AS 2.1 on an PIII 550MHz machine.
When I initially install linux, I do not see a .config file under /usr/src/linux-2.4.9-e.3/ What I was trying to do is install the LVM module so I could use LVM. So I performed the following steps make mrproper, make xconfig, make dep, make clean, make bzImage, make modules, make modules_install, mkinitrd (tried with & without), make install, vi grub.conf.
All I did was change the LVM & RAID modules. I also tried what you suggested and ran xconfig without making any changes at all. I performed the same steps and the system still gets hung up in the middle of booting. When I boot off of the original kernel I have no issues. I know I am probably missing a simple step, I just don't know what it is.