kernel panic:I have no root I want to scream

[Ravi Kumar Munnangi]

Iam using Redhat linux 2.4.18-14(which came with
installing RHlinux-8.0.
Now I want to reconfigure  the kernel.

I have download the linux 2.4.18 from ftp:kernel.org

Ihave put the file in /home/cs0205/
There itself I unzipped the file.
Then I saw a new directory /home/cs0205/linux
then cd /home/cs0205/linux
make mrproper
make xconfig
  During the configuration I havn't made any changes
to 
   the default configuration.I have just saved the 
   default configuration and exited.
make dep
make clean
make bzImage
make modules
make modules_install
make install
  After this I observed that there are new files in 
  /boot like vmlinuz-2.4.18 and vmlinuz-2.4.18.img
  Before there were files named vmlinuz-2.4.18-14 and
  vmlinuz-2.4.18-14.img
  
 I have then changed my /etc/lilo.conf file as follows
  prompt
timeout=50
default=linux_new
boot=/dev/hda
map=/boot/map
install=/boot/boot.b
message=/boot/message
linear

image=/boot/vmlinuz-2.4.18-14
        label=linux
        initrd=/boot/initrd-2.4.18-14.img
        read-only
        append="hdb=ide-scsi root=LABEL=/"
image=/boot/vmlinuz-2.4.18
        label=linux_new
        initrd=/boot/initrd-2.4.18.img
        read-only
        append="hdb=ide-scsi root=LABEL=/"

other=/dev/hda1
        optional
        label=DOS

I have run /sbin/lilo
when I tried booting with the new kernel image, its
stopping after giving the message,
kernel panic:I have no root I want to scream

please help me!!!!!!!!!

Dear friends,
  Iam new to linux.
  I don't know why we should do make mrproper,dep
clean
   bzImage,etc.
  What is the result of this make?
  will u please suggest any resources on net?
  or any text book?
  
  I have read somewhere saying that we have to copy
the 
  bzImage in linux/arch/boot/ to /boot/
  I have also seen something regarding System.map!

  What does this System.map and bzImage contain?
  Do I really have to copy them?
  Then what is the use of make install?
  
 please answer to my queries!!!!!!
  Thankyou!
 for reading the mail patiently!

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