The i810 console framebuffer driver supporting 16-bit color (65k colors) works as an effective framebuffer which is similar to the VESAFB console. It has been tested with LPP (the Linux Progress Patch), but you must apply the LPP patch to the kernel before applying the patch for this driver. There is an easy install script install-fb available now.
Known Problems & Solutions
The driver doesn't compile just by enabling the I810 FrameBuffer option, you need the VESA_FB enabled too. In addition agpgart, agp acceleration and i810_agp also need to be compiled. Take a look at i810fb.config for what needs to be turned on for an error-free compile. There are known problems using X/agpgart along with i810fb which are NOT YET solved. If you need the fb, you need to run X too on the same fb (I use it that way).