I tested the installation of GNU Radio (3.5.1) on Fedora 15 and 16 (32 and 64 bits) and Ubuntu 11.10 32-bit (the most recent distribution at this time). Using the build-gnuradio script, I found that Ubuntu is the system on which things are the easiest. The process runs entirely automatic, whereas certain things need to be fixed manually on Fedora during the installation.
Before starting the execution of the script, make sure that the current user has sudo privileges. On Ubuntu, the root account must be enabled with the Linux command sudo passwd. Afterwards, all users (on version 11.10) get the sudo execution privilege.
On my system, I have an USRP2 radio connected to the Ethernet port. The IP address of the radio is 192.168.10.2. Here is the matching Ubuntu network configuration:
The commands ping, uhd_find_devices and uhd_usrp_probe can be used to test and verify connectivity between the Ubuntu system and USRP2 radio (see the post How to setup your own development environment for GNU Radio?).
I run all of this above Oracle VM VirtualBox. You may wish to start by importing my virtual machine in your system (3.24 G file). It has a complete working installation of GNU Radio 3.5.1. The password, for the user liveuser and root, is password in both cases (I recommend changing it).

Posted by ve3emb 