Sorry john_erlandsson, from my experience, removing and reinstalling the kernel gets you nowhere. It seems some configuration files that were created during the installation remain unchanged after the kernel has been renewed. Essentially, dependent packages still think you have the old kernel and behave accordingly.
I suspect the kmod-nvidia driver is created from driver codes supplied by nVidia developers -- the installation scripts on their sites repeat the same failure pattern and will report alteration on a reinstalled kernel (it doesn't know its a clean install). One advice though: If you do get your Card working with the kmod or nvidia scripts, don't perform any installs that will relocate or adjust your xorg.conf significantly. Its fatal.
Right now, I'm anxious to see 3D acceleration implemented by the Nouveau driver from fedora developers. That looks, to me, like the solution that will set most people at ease.