Don't know if it helps but we've got a number of installations on Mandrake 7.2, 8 and 8.1 and 8.2 and as this distro shares a common kernel, and is really, really close to RH7.2, that may indicate it should be ok.
However, in general Mandrake has been much better than RedHat. Given that Mandrake is 100% RH compatible, perhaps this distro might be a better alternative. 8.2 is our current distro of choice.
Simon
