All the custom kernels around here, as far as I've seen are .zip files for CWM. You go into recovery, wipe cache/dalvik cache (not even entirely necessary) and then flash the kernel. It's that simple...one step.
i recommend flashing it via CMW it's safer first of all no usb **** as in some cases it might move and this is real trouble in case or a kernel just put it on your phone if you're rooted and enter recovery mode then flash...... in case you have CMW application in phone just select the file through it as KERNEL Flash and let it do your job
going to recovery as you mentioned you'll wipe (assume you know howto) and then goto install zip file - then choose whether your file is on internal SD or external... and btw if you are on Speedmod and just want to upgrade kernel the sdcard locations are mixed so internal is your MicroSD and external is the phone's sdcard :_
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