From time to time on startup i see "blah blah is more recent than blah blah". But before it i see "Finding module dependencies ... [done]". So i think that depmod -a is run on readonly filesystem =/
$ egrep 'remount,rw|depmod -' /etc/rc.d/rc.sysinit action "Remounting root filesystem in read/write mode:" mount -n -o remount,rw / INITLOG_ARGS= action "Finding module dependencies:" depmod -A Looks like one of your rc scripts modifies modules.conf
It's a "depmoid -A" malfunction on 2.6.x kernels.
Reassigned to modutils maintainer.
Fixed in modutils-2.4.27-alt2. The bug was worse than reported - depmod -A did not work correctly even for 2.4.x (it was rebuilding all dependencies every time).