Re: nvidia.ko not found, even with module-init-tools installed!
It's probably not a bug in the installer.
Did the installer script indicate any errors when you ran it? Is your running kernel the same as the one you used to compile the driver?
You could try a 'depmod -a' followed by another 'modprobe nvidia'. Also, check that your nvidia module is in the correct /lib/modules directory.
(As a side note: be sure to turn off the 4K stack option when configuring your kernel, unfortunately the Nvidia driver will not work if this is in effect. You can find lots of threads about that particular problem on this forum.)