@dotdash:
Just a wild hunch. I had an issue with the PIC on a machine not liking RC3+ uniprocessor kernels. Similar symptoms. A re-install will prompt for the kernel, or you could mount the CD, backup the kernel, and copy the kernel_SMP.gz off the CD to /boot/kernel/kernel.gz
I tried that, but it didn't help. Turned out the problem was more mundane. The 2U case needs a PCI riser card to enable a PCI card to be plugged into it. Turns out the way the card sat in the riser, parts of the riser card weren't making good contact with the PCI slot on the motherboard. I swapped the riser card with one that was "taller", and now it works just fine. Weird that the card initialized at all.
The intel card is very fast… I'm glad I got I got it, but am kicking myself for not making sure the riser could seat properly first.
Thanks for the help!