You could just learn to compile a kernel. Not that tough, really -- and a valuable skill if you want to know about Xen and other things.
http://www.linuxquestions.org/questions/showthread.php?s=694...
I might have to reinstall Linux this weekend, if it works I'll write a blog post with lots of pictures.
This guide has pictures of a Linux install with properly non-smoothed fonts. http://avi.alkalay.net/linux/docs/font-howto/Font.html
Slightly off topic, most people who compile a kernel don't need to - they usually need to add a module, which if it isn't already packaged, is easily compilable on its own. Check RHEL 4's release notes (which show how to create a Makefile for a single module).
The compile love of Linux novices comes from old documentation from before kernel 2.0, when most drivers started being available as modules.