although there _is a_ kernel compile guide at the very top of this nice forum...
compile your kernel and modules ->
make dep clean bzImage modules modules_install
install your kernel image ->
cp System.map /boot/
cat arch/i386/boot/bzImage > /boot/vmlinuz
update lilo ->
no, to my knowlege make modules won't copy you're modules to /lib/modules/<version> ...
thats what make modules_install does...
your system knows what kernel to use from the lilo.conf ->
image = /boot/vmlinuz
root = /dev/hda1
label = slack
your kernel knows it's version and of course which modules to load if I'm not wrong....
and by the way....I would use 2.4.24 since 2.4.22 and 2.4.23 have some serious security flaws ->