test 3 PXE boot hangs

[Gordon Messmer <yinyang eburg com>]

I'm trying to use the PXE files to load F8 test3 on an IBM X40 laptop. 
I copied the kernel and initrd.img to the laptop and configured grub to 
load them.  This is how I normally install Linux on this host, since it 
has no removable media.  The system boots, and gets to "running 
/sbin/loader", and goes no further.  I can still switch terminals, and 
keystrokes are printed to the console, but that's it.  Ctrl+Alt+Del does 
not reboot the system.

All of my filesystems, except for /boot are logical volumes.  The 
logical volume for /home (LogVol02) is an encrypted filesystem, but 
that's the only thing that I can think of that would be "odd" about my 
system.

What can I do to determine where the installer is hanging up?