Is the LTIB package, as configured when downloaded, supposed to generate files that work for an NFS deployment? I have been unable to get this to function properly even though I have been using Linux in embedded situations for nearly a decade (though I had never used LTIB before, nor had an embedded target boot using NFS). My board starts the kernel and gets all the way to:

...
VFS: Mounted root (nfs filesystem).
Freeing unused kernel memory: 148k init.
Warning: unable to open an initial console.
(it hangs at this point)

I presume I am just missing some obscure configuration issue, but I have not found it.