Here's the results of what you suggested plus a couple of other commands in case they give any more clues:
[root@Andrew root]# ifdown eth0
[root@Andrew root]# ifup eth0
Determining IP information for eth0... done.
[root@Andrew root]# dhclient
Internet Software Consortium DHCP Client V3.0.1rc11
Copyright 1995-2002 Internet Software Consortium.
All rights reserved.
For info, please visit
http://www.isc.org/products/DHCP
Listening on LPF/lo/
Sending on LPF/lo/
Listening on LPF/eth0/00:50:2c:09:49:4a
Sending on LPF/eth0/00:50:2c:09:49:4a
Sending on Socket/fallback
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 5
DHCPDISCOVER on eth0 to 255.255.255.255 port 67 interval 8
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 14
DHCPDISCOVER on eth0 to 255.255.255.255 port 67 interval 20
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 14
DHCPDISCOVER on eth0 to 255.255.255.255 port 67 interval 12
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 9
DHCPDISCOVER on eth0 to 255.255.255.255 port 67 interval 18
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 9
DHCPDISCOVER on lo to 255.255.255.255 port 67 interval 10
DHCPDISCOVER on eth0 to 255.255.255.255 port 67 interval 3
No DHCPOFFERS received.
No working leases in persistent database - sleeping.
[root@Andrew root]# ping 10.0.0.2
connect: Network is unreachable
[root@Andrew root]# ifconfig
eth0 Link encap:Ethernet HWaddr 00:50:2C:09:49:4A
UP BROADCAST MULTICAST MTU:1500 Metric:1
RX packets:0 errors:0 dropped:0 overruns:0 frame:0
TX packets:0 errors:0 dropped:0 overruns:0 carrier:0
collisions:0 txqueuelen:100
RX bytes:0 (0.0 b) TX bytes:0 (0.0 b)
Interrupt:17 Memory:e7010000-e7020000
eth0:9 Link encap:Ethernet HWaddr 00:50:2C:09:49:4A
inet addr:127.255.255.255 Bcast:127.255.255.255 Mask:255.0.0.0
UP BROADCAST MULTICAST MTU:1500 Metric:1
Interrupt:17 Memory:e7010000-e7020000
lo Link encap:Local Loopback
UP LOOPBACK RUNNING MTU:16436 Metric:1
RX packets:362 errors:0 dropped:0 overruns:0 frame:0
TX packets:362 errors:0 dropped:0 overruns:0 carrier:0
collisions:0 txqueuelen:0
RX bytes:35525 (34.6 Kb) TX bytes:35525 (34.6 Kb)
[root@Andrew root]# dmesg | grep -i eth
Broadcom Gigabit Ethernet Driver bcm5700 with Broadcom NIC Extension (NICE) ver. 6.2.11 (05/16/03)
eth0: Broadcom BCM5705 1000Base-T found at mem e7010000, IRQ 17, node addr 00502c09494a
eth0: Broadcom BCM5705 Integrated Copper transceiver found
eth0: Scatter-gather ON, 64-bit DMA ON, Tx Checksum ON, Rx Checksum ON, 802.1Q VLAN ON, NAPI ON
bcm5700: eth0 NIC Link is DOWN
bcm5700: eth0 NIC Link is DOWN
bcm5700: eth0 NIC Link is DOWN
bcm5700: eth0 NIC Link is DOWN
device eth0 entered promiscuous mode
device eth0 left promiscuous mode
device eth0 entered promiscuous mode
device eth0 left promiscuous mode
bcm5700: eth0 NIC Link is DOWN
device eth0 entered promiscuous mode
device eth0 left promiscuous mode
[root@Andrew root]#