Panic on Kernel 12-1.1375 SMP at boot

[Andy Schlei]

I just updated my kernel from 2.6.11-135 to 2.6.12-1.1375.  I am running a 
Pentium-III dual processing machine and the SMP kernel.

At initial boot time, the upgraded SMP kernel fails.  The 12-1.1375 non-SMP 
kernel works fine (although no SMP).  The messages I get are:

----------
...kernel parms (all default)....
...ACPI message (disabled due to 2000 BIOS)...

Red Hat nash version 4.1.18 starting
    Reading all physical volumes.  This may take a while
mount:  error 6 mounting ext3
mount:  error 2 mounting none
switchroot:  mount failed:  22
umount /initrd/dev failed:  2
Kernel panic - not syncing: Attempted to kill init!
------------

All Grub parameters are the defaults.  Any ideas?

--Andy