I built the new kernel with some minor modifications. (Redhat 8.0 kernel 2.4.18-24.8.0). But at the time of booting, the new kernel identifies the ide0 and ide1, but doesnt proceed further. It just gets struck up there.
Here is the full listing of boot messages

Linux version 2.4.8-ac11 (root@z) (gcc version 2.96 20000731 (Red Hat Linux 7.1 2.96-81)) #1 Sat Aug 25 14:57:52 EDT 2001
BIOS-provided physical RAM map:
BIOS-e820: 0000000000000000 - 000000000009b400 (usable)
BIOS-e820: 000000000009b400 - 000000000009c000 (reserved)
BIOS-e820: 00000000000e6400 - 0000000000100000 (reserved)
BIOS-e820: 0000000000100000 - 0000000006ff0000 (usable)
BIOS-e820: 0000000006ff0000 - 0000000006fffc00 (ACPI data)
BIOS-e820: 0000000006fffc00 - 0000000007000000 (ACPI NVS)
BIOS-e820: 00000000fff80000 - 0000000100000000 (reserved)
On node 0 totalpages: 28656
zone(0): 4096 pages.
zone(1): 24560 pages.
zone(2): 0 pages.
Kernel command line: auto BOOT_IMAGE=linux-2.4.8-11 ro root=302 BOOT_FILE=/boot/bzImage-2.4.8-ac11
Initializing CPU#0
Detected 592.650 MHz processor.
Console: colour VGA+ 80x25
Calibrating delay loop... 1179.64 BogoMIPS
Memory: 110600k/114624k available (993k kernel code, 3620k reserved, 295k data, 180k init, 0k highmem)
Dentry-cache hash table entries: 16384 (order: 5, 131072 bytes)
Inode-cache hash table entries: 8192 (order: 4, 65536 bytes)
Mount-cache hash table entries: 2048 (order: 2, 16384 bytes)
Buffer-cache hash table entries: 4096 (order: 2, 16384 bytes)
Page-cache hash table entries: 32768 (order: 5, 131072 bytes)
CPU: Before vendor init, caps: 0084803f 0081813f 00000006, vendor = 7
CPU: L1 I Cache: 64K (64 bytes/line), D cache 64K (32 bytes/line)
CPU: L2 Cache: 512K (128 bytes/line)
CPU: Processor revision 1.3.1.3, 600 MHz
CPU: Code Morphing Software revision 4.1.4-7-51
CPU: 20000805 23:30 official release 4.1.4#2
CPU: After vendor init, caps: 0084813f 0081813f 00000006 00000000
CPU serial number disabled.
CPU: After generic, caps: 0080813f 0081813f 00000006 00000000
CPU: Common caps: 0080813f 0081813f 00000006 00000000
CPU: Transmeta(tm) Crusoe(tm) Processor TMTM5600 stepping 03
Checking 'hlt' instruction... OK.
POSIX conformance testing by UNIFIX
PCI: PCI BIOS revision 2.10 entry at 0xfd8ae, last bus=0
PCI: Using configuration type 1
PCI: Probing PCI hardware
PCI: Using IRQ router ALI [10b9/1533] at 00:07.0
isapnp: Scanning for PnP cards...
isapnp: No Plug & Play device found
PnP: PNP BIOS installation structure at 0xc00f7340
PnP: PNP BIOS version 1.0, entry at f0000:9cc5, dseg at 400
PnP: 15 devices detected total
PNPBIOS: request ports [PNP0c01]:
PNPBIOS: request ports [PNP0c02]: 0x200-0x201 0x202-0x204 0x40b-0x40c 0x480-0x490 0x4d6-0x4d7 0x14b8-0x1500
PNPBIOS: request ports [PNP0c02]: 0x4d0-0x4d2 0x8000-0x8040 0x8040-0x8050
PNPBIOS: request ports [PNP0c02]:
PNPBIOS: request ports [PNP0c02]:
Linux NET4.0 for Linux 2.4
Based upon Swansea University Computer Society NET3.039
Initializing RT netlink socket
Starting kswapd v1.8
ACPI: Core Subsystem version [20010615]
ACPI: Subsystem enabled
Power Resource: found
ACPI: System firmware supports S0 S1 S3 S4 S5
Processor[0]: C0 C1 C2, throttling states: 8
Battery: socket found, battery present
Battery: socket found, battery present
AC Adapter: found
Power Button: found
Lid Switch: found
Thermal Zone: found
pty: 256 Unix98 ptys configured
Serial driver version 5.05c (2001-07-08) with MANY_PORTS SHARE_IRQ SERIAL_PCI ISAPNP enabled
ttyS01 at 0x02f8 (irq = 3) is a 16550A
PCI: Assigned IRQ 9 for device 00:06.1
PCI: Sharing IRQ 9 with 00:03.0
IRQ routing conflict for 00:04.0, have irq 11, want irq 9
PCI: Sharing IRQ 9 with 00:06.0
Redundant entry in serial pci_table. Please send the output of
lspci -vv, this message (4445,43,32902,9233)
and the manufacturer and name of serial board or modem board
to serial-pci-info@lists.sourceforge.net.
register_serial(): autoconfig failed
block: queued sectors max/low 73149kB/24383kB, 256 slots per queue
Uniform Multi-Platform E-IDE driver Revision: 6.31
ide: Assuming 33MHz system bus speed for PIO modes; override with idebus=xx
ALI15X3: IDE controller on PCI bus 00 dev 80
PCI: No IRQ known for interrupt pin A of device 00:10.0. Please try using pci=biosirq.
ALI15X3: chipset revision 195
ALI15X3: not 100% native mode: will probe irqs later
ide0: BM-DMA at 0x14a0-0x14a7, BIOS settings: hda:DMA, hdb:pio
ide1: BM-DMA at 0x14a8-0x14af, BIOS settings: hdc::pio, hdd:pio
---End----

Please do help me
:confused: