Hi,
i never used one of those initrd.img files, i just booted my kernel the old way, and it worked fine
Also you should build your kernel with the make-kpkg command, that's building kernels the debian way
Just go into your src tree (/usr/src/linux) configure your kernel by your needs (make menuconfig) and after that just run a:
make-kpkg kernel_image
after building the kernels and modules you can find a package named
kernel-image-$version_10.00.Custom_$arch.deb
in /usr/src. Now just do a
dpkg --install kernel-image-$version_10.00.Custom_$arch.deb
and everything will be done fully automatic, you will be asked to build a bootdisk (no) and after that your boot-config will be updated
btw: In 2.4.21 there is a DMA problem, you have to enable DMA by hand...
cu