INIT: /etc/inittab[xx] : missing action field
INIT: Cannot execute "/etc/rc.d/rc.sysinit
INIT: Entering runlevel: 3
grep: /proc/cmdline : No such file or directory
Entering non-interactive startup
INIT: Cannot execute "/sbin/update
INIT: ID "1" Respawning too fast: disabled for 5 minutes
INIT: ID "2" Respawning too fast: disabled for 5 minutes
INIT: ID "3" Respawning too fast: disabled for 5 minutes
INIT: ID "4" Respawning too fast: disabled for 5 minutes
INIT: ID "5" Respawning too fast: disabled for 5 minutes
INIT: ID "6" Respawning too fast: disabled for 5 minutes
INIT: No more processes left in this runlevel.

What on earth did you do ???

edit : uhm... We'll need a little more information about this one

-Shade

I had the exact same error. I was very frustrated for a long while and was trying everything to fix it, but nothing was working. The last thing I could think of was that I copy-n-pasted the info from the LFS book. I decided that maybe there were some crazy end-of-line characters or end-of-file character introduced/omitted during the copy-n-paste process. So I went ahead and did exactly as the book instructed: I did the cat > /etc/inittab << "EOF" deal. I guess the boot process is very picky about how inittab is created/structured/formatted. The cat method solved my problem (although it sucked, doing all of that typing
Hope that helps!