It looks like a bug somewhere in binutils, probably BFD. The segment's start address should be rounded up to 0x8010000, not down to 0x8000000.
Well, I did test removing the patch Thiemo mentioned (http://sources.redhat.com/ml/binutils/2003-12/msg00380.html), and rebuilding a kernel, and now they boot. I tested a 2.4.25 on an Indy, and 2.6.4 on an O2. Perhaps a bug in this specific patch?
--Kumba
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"Such is oft the course of deeds that move the wheels of the world: small hands do them because they must, while the eyes of the great are elsewhere." --Elrond
