Thanks ! Yes it worked like a charm !
I did actually mean INSTALL.i386 .. for some reason it prompted for it being missed even though it was there .. no issues :-)
Code:
$ sudo sysctl kern.version
kern.version=OpenBSD 5.2 (GENERIC.MP) #336: Tue Jul 24 09:46:21 MDT 2012
deraadt@i386.openbsd.org:/usr/src/sys/arch/i386/compile/GENERIC.MP