For a InnoDB only DB, which of these elements can be removed?
Please remove or change  the following:

skip-locking
skip-bdb
binlog_do_db  = include_database_name
binlog_ignore_db = include_database_name
default_storage_engine
default_storage_engine = InnoDB
thread_concurrency=8
sync_binlog=256
bulk_insert_buffer_size = 8M


Here is why:


binlog_do_db and binlog_ignore_db are only for including/bypassing the recording of SQL  targeted for specific databases. 
skip-bdb is obsoloete since the BDB storage engine is no longer include in MySQL 5 starting with MySQL 5.1
If you install MySQL 5.5, InnoDB is the default storage engine. No need to include it in my.cnf
thread_concurrency can go since it only works with Solaris
sync_binlog does an OS flush of binlog changes every 256 binlog writes. Increase this if any long write bottlenecks manifest themselves
Your bulk_insert_buffer_size is set to the default. That needs to be way bigger (at least 256M). This would accommodate bulk loading of rows from LOAD DATA INFILE or heavily grouped row from the loading of mysqldumps.


There is so much to add based on the info in Drupal 7 Uses InnoDB, so do I need other configs?