rpm -qpl java-1.4.2-sun-1.4.2.10-1jpp.i586.rpm | grep "libjava.so" /usr/lib/jvm/java-1.4.2-sun-1.4.2.10/jre/lib/i386/libjava.so
So does that mean that it is on my system and something is not going right with this rpm when I do a yum -y install?
No, this means the file is in that package and you're getting a circular dependency. This is is a common problem with jpackage rpms (you read the link I sent right?). yum won't fix this, because it's an internal dependency problem with rpm and java binaries. Seek help from the jpackage kids. They've dealt with this enough to help out better than I can.
-- "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety'' Benjamin Franklin 1775