Kernel upgrade similar to old method?

I will be upgrading my kernel of my FC5 64-bit which has the old kernel version of 2.6.15 to 2.6.22.6. I checked out few resources which tell the details of upgrading from 2.4.x to 2.6. Can I follow the same steps for the upgrade of my kernel or have they been any major changes of the method of upgrading? Anything to look out for before making the changes? I will be installing GRUB as the bootloader. I don't have a broadband connection. Will this hamper the upgrade as I don't know which version of gcc and other applications are there. Upgrading that would be nearly impossible because of the dependencies. Please guide me.

EDIT: I will be upgrading the kernel after a fresh install.