Now when you run
mkinitrd -v -f /boot/initrd-2.6.20-1.2320.fc5.img 2.6.20-1.2320.fc5
This assumes that you have the modules for this kernel version build under /lib/modules. So it would check /lib/modules/2.6.20-1.2320.fc5 for modules correct?
I want to make sure I understand this. When you recompile a kernel, specifically make menuconfig and you check which device drivers you want to be built as a kernel module instead of built into the kernel image, these modules are all put into the initrd when you run mkinitrd? Or are just the block device driver modules put into the initrd?