Need some Insight-modules/modules.conf age mismatch

["Donald R. Spoon" <dspoon@satx.rr.com>]

Dear GURUS,

Recently, I have been getting warning messages on bootup that goes
something like this:

"NOTE:  /etc/modules.conf is more recent than
/lib/modules/2.2.19/modules.dep"

I have tried running "depmod -a" and "update-modules" without any effect
on these messages.  I cannot definately tie its start to any one event,
but I have noticed it since a recent upgrade to kernel 2.2.19-4.  I have
also seen it after patching a kernel or re-compiling the modules.  I
have been using the "old-fashioned" method of compiling the
kernel/modules, i.e. "make config", "make dep", "make bzImage", "make
modules", and "make modules_install".  I always move the old set of
modules out of the way by renaming it to something else
(/lib/modules/2.2.19.old) before installing the new set, so I am pretty
sure I am looking at the new set during bootup.  The system seems to
work OK despite these messages.

The sytem is Debian Testing (upgraded from Progeny Newton) running
2.2.19 kernel.  I am using GRUB as a bootloader (from Progeny), which
uses initrd.  

Question(s):   

!.  Could someone give me some insight as to what is happening here?
2.  Should I be worried?
3.  Is there a "fix" for this annoyance?
4.  Do I need to update the /boot/initrd file every time I update the
kernel modules?? 

TIA & Cheers,
-Don Spoon-