[falko]

I've just played around with Xen 3.0.3, and in that version you don't need

dhcp="off"
ip="192.168.1.32"
netmask="255.255.255.0"
gateway="192.168.1.254"
hostname="xen0.xcski.com"

in /etc/xen/vm01-config.sxp, but you must have

auto lo
iface lo inet loopback
        address 127.0.0.1
        netmask 255.0.0.0

# The primary network interface
auto eth0
iface eth0 inet static
        address 192.168.1.32
        netmask 255.255.255.0
        network 192.168.1.0
        broadcast 192.168.1.255
        gateway 192.168.1.254

in vm01's /etc/network/interfaces and xen0.xcski.com in vm01's /etc/hostname.