Problems to anticipate on compiling 3.7.1 or 3.8.rc kernel?

I am doing some experiments with framebuffer console graphics, for the time being
just accessing memory mapped fb, but I anticipate writing a special module to do
some kernel things too, so I will be recompiling the kernel (64bit, BTW).

I have Slackware 14.0 x86_64 with the 3.2.29 kernel, so I am wondering if there are
known problems with jumping ahead and compiling and running e,g,

	http://www.kernel.org/pub/linux/kernel/v3.x/linux-3.7.1.tar.bz2

in the 14.0 installed environment of tools and libraries etc.

I am using AMD graphics outputting via HDMI cable to a TV as a monitor (full 1920x1080)
and would like to get sound as well via HDMI, but that can wait, although it would be
a nice side benefit if 3.7.1 supports it. Anyone here have HDMI sound going?

TIA.