I hit this same old problem that was here mnths ago:
usr/src/linux-3.1.14-gentoo/scripts/gen_initramfs_list.sh: Cannot open
`/usr/share/v86d/initramfs [...] initramfs.cpio] Error 1
I know that one way to fix it is to emerge v86d which I am now doing,
but seems like something that his a problem this long should have gone
away by now... Or does it depend on user making some boneheaded
selections during make menuconfig?