Changing an entire toolchain just to get a $readmemh compatible file would appear to be a bit extreme. It's perfectly possible to convert a binary from the standard kernel build to a hex file using something like 'od' or 'xxd'.hths.
You don't have to use armcc/armlink to use fromelf. Fromelf will work with any elf file built for ARM. The gnu tools produce elf file files as well.
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