For those of you who are running into this error:
24520:01 not found
eth0: Could not attach to PHY
IP-Config: Failed to open eth0
IP-Config: Device `eth0' not found.
There is a bug in recent kernels. I found it in 2.6.28.7:
linux/arch/powerpc/sysdev/fsl_soc.c.~1~:
for_each_compatible_node(np, "mdio", "gianfar");