I guess the only option left for me is to re-install

. When i logged in as root in cmd line, internet was not working, i edited /etc/rc.d/rc.inet1.conf to use dhcpcd and restarted the service but still didn't work. Apparently this file was changed due to the upgrade i had done earlier. I tried all possible options that i could think of, but couldn't get the net working.
If i boot with live cd and use chroot option, maybe i can recover, but the effort and time needed for that can be offset by reinstalling all over again.
Will a subsequent/future upgrade break things again or it should be ok going forward? Also can you please tell how to upgrade my kernel as well to the latest 3.3.x if it's available?