Do you also do the same thing every time a new kernel ends up in your /usr/portage? Here's a Ruby script that does all required steps automatically for you:
- The kernel symlink gets updated to point to the latest kernel in /usr/src/.
- An existing .config file gets copied from the previously used kernel.
- genkernel is used to compile the new kernel.
- The kernel gets installed on your /boot partition.
- /boot/grub/grub.conf gets updated (please check manually before booting) to use the new kernel.