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you a new shell.  From there you can run whatever you need to run.  By
default it has a 100 line scrollback, but you can change it in the
configuration file or on the commandline (-h num).  Access the
scrollback using ctrl-a esc, scroll up and down using pgup/dn, esc to
exit scrollback.  Exiting the shell will exit screen and drop you back
to your login shell.

I also found this:
Soft scrollback for the Linux VGA console
http://www.linuxinsight.com/soft_scrollback_for_the_linux_vga_console.html

Available in 2.6 kernels, but requires a kernel recompile and slows
down the console.  Screen seems a lot easier to me :-)

--Glenn