Problem with compiled kernel 2.6.26fc+ unable to identify cdrom format

[alok pandey <alok rhct gmail com>]

HI All,
Recently  I compiled a linux fedora kernel (2.6.27fc_x86_64bit) for stata support. After successful compilation and installation with new kernel, :-
  --System is not able to mount cdrom.
 --Always generate error, "medium not found"
--dmesg have an  entry some thing like " unable to understand cdrom format"

I don't know what went wrong, but i cross checked my new kernel config and my new kernel have following support:- (in respect of cdrom)
 --SCSI device drive support [*]
--iso9660 file system support [*]
--ata-ide device support [*]

I am attaching my kernel.conf file as attachment for better understanding. let me know if some other information is need in order to understand my issue.

Also,
I am highly confused in selection of modules as static or dynamic. It will be great help if any one can suggest me the rule/law behind dynamic[M] and static[*] selection of kernel modules.

*I just need to ask , what if i select all kernel modules as lodable modules [M] instead of static modules [*] or vice versa !!

Thanks 
-A