getting a bit closer.
compiled kernel to add NAT
copied modules to phone (deleting current modules)
flashed kernel from build

phone boots

modules (iptables and other modules) inserts without errors

However, there is no network connections (3G/WiFi)

I guess some modifications to kernel scriipts are needed, since CONFIG-NETFILTER-ADVANCED was changed from y to n and probably some modules are not being loaded, or missing)