No,
/usr/src/sys/i386/conf is where the file should be.
In any case, if you specify a kernel config that does not exist the build process will halt:
Code:
[/usr/src]# make kernel KERNCONF=adasda
ERROR: Missing kernel configuration file(s) (adasda).
*** Error code 1
Stop in /usr/src.
*** Error code 1
Stop in /usr/src.
Exit 1
[/usr/src]#
Is the KERNCONF argument actually being passed correctly? What is the output of:
# make -V KERNCONF kernel KERNCONF=P200MMX