I just succeeded in building Linux kernel 126.96.36.199 and booting it from Joggler.
For future reference, do -not-, I repeat, do NOT have CONFIG_RELOCATABLE in your .config. ELILO will not boot your kernel after 2.6.30 (such as 2.6.31+) with it.
You can download the config here, copy it to .config in your build directory and run make oldconfig and make bzImage and make modules. You'll need ELILO 3.12.