Unfortunately that doesn't help much! listed is my complete yum.conf, I do not have a yum.repos directory.
The version of yum that ships with FC3 creates a /etc/yum.repos.d directory, as does the fedora-release package, which includes some files that are in that directory. Did you delete the directory?
What's the output of:
$ rpm -q yum fedora-release
Paul.
