What version of the nVidia driver are you using???
I have Fedora Core 1 installed on a Gateway M500 laptop which uses an nVidia GeForce4 420 Go w/32MB RAM video card that ONLY works fully with the 4363 version of the driver! With all of the other versions between 4363 and 5328 have problems with the ttys. With version 5328 the ttys do work but display the text 2 lines too low - on a full screen the prompt is actually off screen. Too the text is not displayed properly - like it's chopped off in some areas of each character. But with the version 4363 installed, everything works!
Consider giving it a try - it may work for you!
BTW, I can close and open the lid on this system with no ill effects at all with the video...