@rickbronson,
That's perfectly normal - Rockbox is nowhere near finished on the m240. The specific problem you're seeing is that the codecs don't compile. The main Rockbox binary has already been compiled (you'll see a apps/rockbox.bin file in your build directory), and if you type "make bin", only this file will be compiled (meaning you won't see those errors, as the codecs are not compiled).
@MarcGuay,
A bootloader build consists of the code in firmware/, plus the code in bootloader/
The main Rockbox build consists of the code in firmware/, plus the code in apps/
In the early stages of a port (when not all the drivers are written and working), the bootloader is a nice way to test and develop drivers - it's easy to gradually add features to the bootloader as the relevant driver is implemented. Once they're all working, work can start on the (relatively minor) parts that are only used by the apps/ code - the sound driver normally being the main one.
The lack of a NAND driver makes attempting to run the main Rockbox binary at this stage pretty pointless.