a penny is a hot deal, but Linux distros move so fast that most people wouldn't want to run an outdated distro. So if you have a broadband connection and a CDR drive, it's definitely better just to download the Mandrake 7.2 ISO.
As for Linux kernel 2.4, I recall reading (maybe on slashdot.org) that one of the Mandrake developers had cooked up some kernel 2.4 RPMs for download.
Right now, Red Hat 7.0 has perhaps the best reputation for being kernel 2.4-ready, although most of the up-to-date distros are fairly up to date for you to compile your own 2.4.0 kernel.
Personally, I'm going to wait for Red Hat and SuSE to officially ship w/ the new kernel, and I'll choose from amongst the two. Right now, I'm a little wary of SuSE 7.1 shipping w/ kernel 2.4.0 within a month because SuSE has had a poor history of updating their kernels in between their distro releases. As most of us know, many kernel revisions contain security fixes, and it's irresponsible for Linux vendors to issue security updates w/o issuing precompiled kernel updates. And I'd guarantee that down the road, you'll definitely want to upgrade past 2.4.0 for features or critical fixes.