Either the kernel-2.4.0 rpm or pppd rpm should create the device mknod /dev/ppp c 108 0 and perhaps add the aliases into /etc/modules.conf...aliases are OK but without the device all you get is a message saying ppp has not been compiled into the kernel even though it has been.
dev-3.1.0-2 (the version which has updated data for 2.4.0) in Raw Hide includes the /dev/ppp device. Please reopen this bug if you find that /dev/ppp does not exist after upgrading.
dev-3.1.0-2 is not in the January 17 rawhide (latest)...the one it has is dev-3.0.6-8!! Is there another place for this?
The next snapshot should pick it up. It appears that people.redhat.com doesn't want to let me scp files in at the moment, else I'd drop packages up there.