Funny, I have a slackware installation and I just installed sysvinit-2.60, the latest binutils and modules-1.3.69f
last night, without touching my init files, and everything still appears to be fine. (knock wood).
And this with the 1.3.90 kernel that thinks its 1.3.89 ...
Of course, when slackware came out with 3.0 last September (?) with ELF, I rebuilt everything from scratch.
-- todd --