Thanks for your feedback.
It's good to know that I could "fall back" to
the old kernel if I need to, and yes, there's
a rescue CD in case of "emergency".
But, what I meant by "failsafe" mode, in particular,
as a comparison with SuSE's, was rather an init level 3 boot.
When I closely looked at SuSE's failsafe boot, the actual
boot process was a level 3 boot. And, they provide a separate
kernel image for this mode such as something.something.shipped.
So, I wanted to know if FC3 also provides such a special case
kernel image, and I looked around but could not find a suitable one.
Anyway, I appreciate for your input.