Grub Problems
That's where the editting of the init script and rebuilding the initrd comes in.
The one you've got was probably built for you as part of the anaconda installation process.
If your initrd script is called /boot/initrd-xxxxxxxxx.img, then you can unpack it with:
mkdir /tmp/initrd
cd /tmp/initrd
gzip -cd /boot/initrd-xxxxxxxxx.img | cpio -imd --quiet
then edit the init file at /tmp/initrd/init to change the entry with the old swap partition, then pack it up again with:
cd /tmp/initrd
find . | cpio -co | gzip -9 > /boot/initrd-xxxxxxxxx.img
It would probably be a good idea to back up the old initrd file before you start in case it all goes wrong