Here's the general scenerio:

I've given up with lilo after wasting an entire day trying to dual boot the two OS's with it.

I've opted to use the Windows XP boot manager. I have two hard drives. Primary master has Windows XP on it, primary slave has Slackware Linux 9.0 on it.

So... I booted into Linux with my rescue disk and copied the MBR over to a file. This file, called BOOTSECT.LNX, is stored in C: now.

I've edited boot.ini as follows:
[boot loader]
timeout=30
default=multi(0)disk(0)rdisk(0)partition(1)\WINDOW S
[operating systems]
multi(0)disk(0)rdisk(0)partition(1)\WINDOWS=" Microsoft Windows XP Home Edition" /fastdetect
C:\BOOTSECT.LNX="Slackware Linux"

When I restart my computer the boot manager works flawlessly. That is until I select Linux.

Linux starts up fine. All that garbage magically flows by the screen until Linux kicks me in the balls with kernel panic. What seems to happen is it tries to mount my root file system (ext2) via FAT. It can't grab the superblock.

Any help, or further questions? Thanks.

EDIT: Also note I can boot up my Linux system fine with my boot disk.