I was looking for a good diagramming tool for fedora (#14 specifically) then found out that Inkscape is a good one for the job (I'm not that expert on the tool yet).
I was interested in installing it from the source (just for fun :)). I know that you can use yum (or any package management tool) to do all of this very easily but I haven't tried that path. So I cannot comment on how it works there.
Here are key things you should be aware of if you are going to do the same:
There are quite a few dependencies that you should resolve before installing inkscape including a garbage collector (GC) for C/C++ which I had some trouble getting installed. So I thought of mentioning it here for anyone trying the same.
Install the GC:
1. Get the source from here (I used gc-7.1) and extract it to your preferred location.
2. Change to the folder you extracted the source and run ./configure --disable-shared --enable-static
3. If all seems fine (with no Errors reported) then run make.
4. If everything is fine then it's time to install, run install (as the root).
This should have the GC installed in your machine.
And for the rest of the Inkscape compilation and installation you'll find almost everything you need here.