The lo one's a bit of a bugger though - the only similar error I've had (incidentally also with redhat - i've never had such problems with anything else), is Delayed eth0 initialisation, which is hardly close to that problem - but lo refusing to load is bad, metheenks.
Very bad in fact - do you get anything else in the logs? (I know this is wishful thinking as redhat isn't very verbose when you need it, and is when you don't - but...)