Ok...i got it to work. Here is the log:

ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
ide_data_test: wrote 0x0000 read 0xffff
ide_data_test: wrote 0xffff read 0xffff
ide_data_test: wrote 0xaaaa read 0xaaea
ide_data_test: wrote 0x5555 read 0x5555
empeg-flash driver initialized
smc chip id/revision 0x3349
smc9194.c:v0.12 03/06/96 by Erik Stahlman ([email protected])

SMC9194: SMC91C94(r:9) at 0x4008000 IRQ:7 INTF:TP MEM:6144b MAC 00:02:d7:28:10:a5
RAMDISK: ext2 filesystem found at block 0
RAMDISK: Loading 320 blocks [1 disk] into ram disk... done.
VFS: Mounted root (ext2 filesystem).
empeg-pump v0.03 (19980601)
Press Ctrl-A to enter pump...VFS: Cannot open root device 03:05
Kernel panic: VFS: Unable to mount root fs on 03:05