Hi. I think the correct lines would be something like:
kernel /boot/vmlinuz-ide-2.4.31 root=/dev/hda6 ro
You should not need initrd, unless you use filesystems like reiserfs, xfs..
The "/dev/hda6" which I wrote above is just a guess of mine from (hd0,5). You should replace that with your apropiate entry
. This configuration works, at least for me