I prefer to use loadlin on a dual-boot system, combined with a DOS boot-menu. This also makes it possible to boot into MSDOS (i.e., without booting windows first)
I did it this way:
(You probably don't need the DoubleBuffer=1 and AutoScan=2 line; Logo=0 just disables the flashing of the start-up graphics; The other entries were generated by windows' setup)
;The following lines are required for compatibility with other programs.
;Do not remove them (MSDOS.SYS needs to be >1024 bytes).
MENUITEM=dos, Start MS-DOS
MENUITEM=windows, Start Windows 98
MENUITEM=linux, Start Linux
and the directory linux contains LOADLIN.EXE and a copy of the kernel you want to be able to boot, copied from the /boot directory.
loadlin vml2413.ac8 idebus=40 hda=ide-scsi root=/dev/ataraid/disk0/part5
Hope this is informative to you...