netcfg does not yet support redialing for ppp/slip connections
netcfg is eventually being obsoleted by linuxconf which does support the options you are suggestions. Please try to use Linuxconf to configure your ppp connection and reopen the bug if the problem still persists.
Ok, found where I did wrong: you have to check "redial if fails"... at first, I thought it was related to pppd's persistant connections or something like that, I had to look at the script to see that it really was what I was looking for. another "bug" closed.