I took the following steps:
Adjusted /etc/slapt-get/slapt-getrc to point to the newer release:
...
SOURCE=http://slackware.perespim.ru/pub/slackware-10.2/
...
After that, i did the following:
slapt-get --dist-upgrade --ignore-excludes --download-only
slapt-get --install kernel --no-upgrade
slapt-get --dist-upgrade --ignore-excludes
And adjusted /etc/lilo.conf to point to the new kernel
After a reboot, all is up and running.
Also, previously this machine was rebooting itself after 20-25 hours of work.
Now it has a 3 days uptime already :)
