Upgrade kernel from 2.6.32 to 3.0.7

I currently run Angstrom Linux 2.6.32 on BeagleBoard-xM. Image was built on Narcissus with Bootloader Files (x-load/u-boot/scripts). Recently, I downloaded kernel sources from kernel.org and copied them to /usr/src on BB-xM. After making the configuration (make menuconfig), I build (make) and installed (make install) kernel directly to BB-xM (native toolchain).

Now, I want to upgrade kernel to 3.0.7. As far I know, the 3.x kernel should be backward compatible with a 2.6 oriented userland, so there should not be any problems following the same procedure as with kernel 2.6.32. However, is there anything else required? Do I have to configure U-Boot?