The Raspberry Pi repository on GitHub now has kernel 3.2.27 available, so I updated that with the 3.2.27-28 incremental patch, from ftp://ftp.kernel.org/pub/linux/kernel/v3.0/incr/

Now, the Pi is running Fedora 17 with kernel 3.2.28..

Fedora release 17 (Beefy Miracle)
Kernel 3.2.28 on an armv6l (ttyAMA0)

rgpi login: xxxx
Password:
Last login: Thu Jan  1 01:01:03 on ttyAMA0
[xxxx@rgpi ~]# uname -a
Linux rgpi 3.2.28 #1 Fri Aug 24 12:57:01 BST 2012 armv6l armv6l armv6l GNU/Linux