If your installing CentOS 5 and you need the XFS filesystem then you need to install a special kernel module from the extras repository. If your going to use XFS filesystem you should also install the XFS programs that go with it. There is an easy way to see what XFS kernel modules are available for your kernel. Make sure the extras repo is turned on in /etc/yum.repos.d/CentOS-Base.repo. Then try the following command to list the XFS packages available for your running kernel:
yum list available kmod-xfs\*
Then pick the kernel module based on the kernel your running (uname -a). If your running an smp kernel then you would choose kmod-xfs-smp.i686 for i686 class processor. For example to install the smp XFS module and the xfs programs try the following:
yum install kmod-xfs-smp.i686 xfsdump xfsprogs