To compile and install a new Linux kernel, here's a condensed guide to the steps to follow.
In the directory into which you have unpacked your kernel of choice, issue the following commands, or perform the activity indicated:
make clean
make mrproper # this step may remove the .config file, which contains
# configuration settings
make {xconfig|menuconfig} # xconfig needs x, menuconfig needs ncurses
# must save on exit, otherwise make dep may
# fail with make errors: e.g. No rule to
# make target ../autoconf.h
make dep
# edit Makefile to set your own text for EXTRAVERSION
make bzImage
make modules
make modules_install
make install # this step might do the next for you
# modify lilo.conf or grub.conf/menu.1st to boot new kernel
# if you use lilo, run /sbin/lilo
# reboot and pray
