One prefers to use the fresh vanilla Linux kernel with busybox. TheLinux kernel is then configured exactly for your target. With that, youMaybe you do but if you have the extra space (especially if we could fix the module packaging a bit) then the ability to use existing maintained and tested code, and the fact "yum update" just works are hugely valuable.
I have some notes on something I call "Fedora Nano" at http:// www.flyn.org/fedoranano/fedoranano.html. I currently build my own kernel but am trying to use Fedora packages as much as possible. One of my big interests is making select packages more fine-grained to reduce dependencies.