Multiple linuxes with grub and one boot partition

[Cliff Avey]

I've got an FC3 system build with /boot (and grub) on hda1, swap on 
hda2, / (root) on hda5 (extended partition) and /var on hda6. I'd like 
to install a separately booted FC7 on this box and add it to my main 
grub menu. I'm thinking the following would work, but I'd appreciate 
some advice if this is a reasonable way to go. I thought I'd create new 
hda7 and hda8 partitions for the root of the new FC7 and /var 
respectively and install FC7 there, with no separate partition for 
/boot. I'd then copy the kernel from /boot on hda7 by hand to hda1, 
update the grub menu on hda1, delete the /boot dir on hda7 and edit the 
fstab on the FC7 system to mount hda1 as /boot.

Is there a more straightforward way to accomplish this, or is this the 
way to do it? Alternatively, can I make the FC7 installer to add its 
kernel to my existing boot (hda1 partition), not reformat that partition 
or erase the other kernels, and not blow away my existing grub menu? Or 
do I really want to create a second boot partition (maybe on hda3) for FC7?