The mystery gets more interesting... I now have a CentOS 7.3 Dell R710 server doing the exact same thing of rebooting immediately after the Xen kernel load. Just to note this is a second system and not just the first system with an update. I hope I'm not introducing something odd. They only "interesting" thing I have done for historical reasons is to change the following /etc/sysconfig/grub line:
GRUB_CMDLINE_XEN_DEFAULT="dom0_mem=6G,max:8G cpuinfo com1=115200,8n1 console=com1,tty loglvl=all guest_loglvl=all"
But I've done that on other servers without issue. In fact I have a Dell R710 that DOES work with CentOS 7 and the new kernel... so confused.

On Fri, Mar 24, 2017 at 1:44 PM, Sarah Newman <srn@prgmr.com> wrote:
On 03/24/2017 11:35 AM, PJ Welsh wrote:
> As a follow up I was able to test fresh install on Dell R710 and a Dell
> R620 with success on CentOS 7.3 without issue on the new kernel.  My new
> plan will be to just move this C6 to one of the C7 I just created.

That sounds like a compiler problem, since I think the C6 and C7 kernels are built from the same source.

--Sarah
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