The answer is... noapic! Pass this in as a parameter in your
lilo.conf (or at boot time) and your problems will go away, I believe.
I'm now going to put a bunch of keywords in here so people googling
can find this information...
I bought a new Soyo kt400 lite motherboard and my ethernet went away.
Modules loaded just fine, ifconfig on eth0 seems to do what it's
supposed to, route seemed fine, but almost all packets fail to be
received by the on-board nic. Strangely, this also seemed to happen
on any other nic that I put into the mobo.
The only symptoms I could find (other than not being able to access
the network

were some funny messages in my syslog:
eth0: transmit timed out: status 1003, PHY status 782d
Sometimes the nic would pick up packets sent to the broadcast address
(e.g. 192.168.1.255) but most of those were dropped, too.
I'm pretty sure the whole problem is the motherboard.
So, if you have a soyo kt400, soyo kt333, or any other soyo
motherboard and you are using Linux, I recommend trying noapic as a
lilo.conf parameter to fix your network card nightmares.