Did you ever find a solution to this problem? I'm bumping against the same issue now.
I've got an NEC Powermate v133e (Classic Pentium, 133 mHz) with a Polaroid BurnMax32 CD burner, 48 meg memory, and two hard drives, a 15 gig Maxtor and a 1 gig Western Digital. Both are tied to a Promise Ultra ATA-66 controller card. Both have been checked and verified to be error-free. Both drives have been wiped clean, and a 5 gig primary FAT32 partition has been created.
The 15 gig Maxtor is primary master, the WDC is primary slave, the CD burner is secondary master.
I'm trying to get Damn Small Linux 1.2 installed, but the boot floppy keeps dying with exactly the same Bad EIP value and kernel null pointer error you got.
I can get the system to boot from a Win98 floppy, and I can even run an install CD for Win98SE, but I can't get Linux to boot from a CD in the drive (yes, BIOS is configured to check) nor from a floppy.
Clues appreciated.