I use ELDK version 3.0. When I build U-Boot I get error messages like this:
{standard input}: Assembler messages:
{standard input}:4998: Error: Relocation cannot be done when using -mrelocatable
...
Answer:
ELDK 3.0 uses GCC-3.2.2; your U-Boot sources are too old for this compiler.
GCC-3.x requires a few adaptions which were added in later versions of U-Boot.
Use for example the source tree (1.0.2) which is included with the ELDK,
or download the latest version from CVS.