Thank you for your quick response.
when i boot with the console connected, my screen looks almost identical to the one posted on the Rom Flash instruction page located here.
Note: this is a snip from the Rom Flash page because i will have to connect my laptop back up to the raq to get a more accurate screen cap, but it looks nearly identical, aside from the serial number and amount of RAM
The boot with the Intel ROM:
Cobalt Networks - 'We serve it, you surf it'
Firmware version 2.3.0
ROM Build info: Wed Oct 6 15:23:25 PDT 1999 freakshow.cobaltnet.com
System serial number: 3603BM0201162
Memory found: 128 MB
Initializing I2C bus: done
Scanning PCI bus: done
Initializing IDE: done
IDE 0 master: found
slave: not found
IDE 1 master: not found
slave: not found
Initializing SCSI: no SCSI found - failed
Initializing ethernet: failed
Initializing EEPROMs: done
EEPROM Bank 0: Intel E28F008S5 1MB
EEPROM Bank 1: not installed.
Mounting rom_fs: done
Initializing RTC: done
i have the option to select hda1/2/3/4 to boot from when i boot the raq using the S button on the front of it, but when i load up the raqcop vm image onto a harddrive and attempt to boot to hda4, i get the kernel panic error.
i am at a loss. is there another method i should use to do this? i have a vm of an ipcop install that i could use, but i think it will be the same outcome.
is there something i am missing? i am currently using a cisco cfe511 with smoothwall, and would love to move to raqcop so the cisco cfe can be better utilized.
please help a cobalt newbie out
EDIT
here are the screen caps:

