The command to build a toolchain, that works with version 2.0.1 of the Motorola Milestone firmware, on gentoo is:
crossdev --kernel 2.6.29 arm-none-linux-gnueabi
(It worked for me)
Like in my first article I tested to build a helloWorld program and the bash shell. The steps needed are the same except for the host. Instead of arm7-unknown-linux-gnu or arm-unknown-linux-uclibc it now should be arm-none-linux-gnueabi.
Here is my bash binary. (Tested on my Milestone with a nearly unmodified firmware 2.0.1)