I had to install 14.1 (32 bit) on my moms system today on a new hdd because her old hdd was dying.
After the installation and booting the first time after taking out the dvd, it kept stopping at a blinking cursor and black screen.
This sounds sorta like what's happening to the OP.
What I did was boot using the dvd and the 'hugesmp.s stuff' until I finally got to a login shell.
I then used 'mc' to take a look at the lilo.conf and sure enough it was slightly messed up.
At the top where it has what device to boot from, it had
, but it should have been only
, and at the bottom of the conf file where it has root=, it was correct.
Once I fixed that, it would boot without the dvd just fine. I have no clue why, during the setup where it asks if you want a lilo simple made , that it didn't make it correctly, but no big deal.
Hopefully this will help and if not, I hope the OP finds out soon what the problem is.