Ronan,
Those settings seem fine. Note, the RAC requires a full null modem
cable, including routing RTS/CTS, DTR/DSR/DCD. The User's Guide calls
out the signal routing required for the null modem cable:
<snip>
Connecting the DB-9 Cable
If you want to connect to the managed system using a serial text
console, you must connect a
DB-9 null modem cable to the COM port that you are using on the managed
system. Not all
DB-9 cables carry the pinout/signals necessary for this connection. The
DB-9 cable for this
connection must conform to the specification shown in Table 3-4.
NOTE: You can also use this cable for BIOS text console redirection with
the DRAC 4 serial console
disabled.
Table 3-4. Required Pinout for DB-9 Null Modem Cable
Signal Name | DB-9 Pin | DB-9 Pin
FG (Frame Ground) | - | -
TD (Transmit data) | 3 | 2
RD (Receive Data) | 2 | 3
RTS (Request To Send) | 7 | 8
CTS (Clear To Send) | 8 | 7
SG (Signal Ground) | 5 | 5
DSR (Data Set Ready) | 6 | 4
CD (Carrier Detect) | 1 | 4
DTR (Data Terminal Ready) | 4 | 1
DTR (Data Terminal Ready) | 4 | 6
atr |
Linux on Dell systems FAQ-O-Matic : 
New Item