My best guess would be that you need some "bootstrapping" work here and not just tweaking specs. I mean by that that first you have to compile from sources, not by a rebuilding srpms, a version of gcc3 which works with 7.2 libraries (a good question is if there are Alpha specific bugs there and patches for that) and then you can use that compiler to build glibc. This may depend on a kernel so this may result in more work.
But if you left glibc for the very end then your recompilation effort is
somewhat to naught. If you will replace glibc then you will find out
that you are linking with wrong dynamic libraries and nothing works.
One way out is to leave old glibc alone. That way you will end up with
sort of "pseudo-Yarrow" as various things there (NTPL for sure) depend
on an updated glibc.
Still 'yum' http://linux.duke.edu/projects/yum/
has advantages, I believe, on a longer run even if it does not have
a GUI front-end so far. Not mentioning that detail that it comes
with "Yarrow". OTOH there is nothing which prevents the same depository
to provide both apt and yum support.