If you want, make partitions for /usr, /var, ..., install a newer kerner (2.4.24) and so on. Note that there ist a little bug with LVM, because vms starts BEFORE mdadm, so you have to change the startup order. If you have 3 ore 4 disks you can also run root on raid5 or raid10. But note that in this cases you need an extra /boot partitions because lilo does not work with raid5/10. Make the /boot partitions raid1 an put i.e. "raid-extra-boot="/dev/hda,/dev/hdc,/dev/hde" in your "/etc/lilo.conf".