Neither works... The initrd gets it own command line. Something like
Code:
linux16 /vmlinuz-3.19.5-200.fc21.x86_64 root=UUID=e41bc212-a1b5-4a76-aac
c-92e83c2028a6 ro nomodeset rhgb quiet
initrd16 /initramfs-3.19.5-200.fc21.x86_64.img
DISCLAIMER, I don't have a CentOS 7 install at the moment, the above is copied from a Fedora entry
I believe the "linux" command is expecting a kernel file, not an image or a initramfs/initrd.