Well for those who might be interested:
making the ramdisk as described in:
http://tiexpressdsp.com/index.php/Initrd
pushed the cart a little bit ahead.
I left the a.out ("Hello world" statically compiled test program as a fake init script), then:
---------------------------------------------------
dd if=/dev/zero of=/dev/ram0 bs=1k count=32768
mke2fs -vm0 /dev/ram0 32768
tune2fs -c 0 /dev/ram0
dd if=/dev/ram0 bs=1k count=32768 > ramdisk
----------------------------------------------------
and now the messages changed like this:
---------------- snip ----------------------------
[ 3.610289] Trying to unpack rootfs image as initramfs...
[ 3.674964] rootfs image is not initramfs (junk in compressed archive); looks like an initrd
[ 3.796907] Freeing initrd memory: 32768k freed
------------------------ snip ----------------------
[ 12.937134] RAMDISK: ext2 filesystem found at block 0
[ 12.997637] RAMDISK: Loading 32768KiB [1 disk] into ram disk... done.
[ 17.761085] VFS: Mounted root (ext2 filesystem) on device 1:0.
[ 17.830894] Freeing unused kernel memory: 1336k freed
[ 17.891797] Write protecting the kernel read-only data: 6720k
Hello World
[ 17.977042] a.out used greatest stack depth: 4448 bytes left
[ 18.044817] Kernel panic - not syncing: Attempted to kill init!
[ 18.115630] Pid: 1, comm: a.out Not tainted 2.6.31-gentoo-r6 #18
[ 18.187500] Call Trace:
[ 18.216727] [<ffffffff81486e52>] panic+0xa0/0x151
[ 18.274032] [<ffffffff8108ca8b>] ? call_rcu+0x10/0x12
[ 18.335502] [<ffffffff810479e6>] ? put_files_struct+0xb5/0xc2
[ 18.405289] [<ffffffff8104f51d>] ? exit_ptrace+0x33/0x131
[ 18.470914] [<ffffffff81049106>] do_exit+0x79/0x736
[ 18.530299] [<ffffffff8105e67f>] ? up_read+0x9/0xb
[ 18.588647] [<ffffffff8104983c>] do_group_exit+0x79/0xa6
[ 18.653232] [<ffffffff8104987b>] sys_exit_group+0x12/0x16
[ 18.718864] [<ffffffff8100bb42>] system_call_fastpath+0x16/0x1b
-----------------------------------------------------------------------
With a compressed ramdisk:
dd if=/dev/ram0 bs=1k count=32768 | gzip -v9 > ramdisk.gz
----------------------------------------------------
[ 3.619726] Trying to unpack rootfs image as initramfs...
[ 3.684571] rootfs image is not initramfs (no cpio magic); looks like an initrd
[ 3.778355] Freeing initrd memory: 9520k freed
----------------------------------------------------
[ 12.858307] RAMDISK: gzip image found at block 0
[ 13.133602] VFS: Mounted root (ext2 filesystem) on device 1:0.
[ 13.203456] Freeing unused kernel memory: 1336k freed
[ 13.264353] Write protecting the kernel read-only data: 6720k
[ 13.333709] Kernel panic - not syncing: No init found. Try passing init= option to kernel.
[ 13.433752] Pid: 1, comm: swapper Not tainted 2.6.31-gentoo-r6 #18
[ 13.507713] Call Trace:
[ 13.536943] [<ffffffff81486e52>] panic+0xa0/0x151
[ 13.594254] [<ffffffff810092fb>] init_post+0x187/0x188
[ 13.656770] [<ffffffff81870cdf>] kernel_init+0x1bf/0x1ce
[ 13.721367] [<ffffffff8100cc2a>] child_rip+0xa/0x20
[ 13.780769] [<ffffffff81870b20>] ? kernel_init+0x0/0x1ce
[ 13.845364] [<ffffffff8100cc20>] ? child_rip+0x0/0x20