Recently I upgraded my machine from RH 7.2 to FC 3. This step
replaced fetchmail 5.9.x with 6.2.5, whereupon fm could no
longer get my email from my ISP's POP3 server ...
fetchmail: starting fetchmail 6.2.5 daemon
fetchmail: 31 messages for anderson at wiscmail.wisc.edu (197719 octets).
fetchmail: reading message anderson(_at_)wiscmail(_dot_)wisc(_dot_)edu:1 of
31 (2585 octets) fetchmail: SMTP connect to localhost failed
fetchmail: SMTP transaction error while fetching from wiscmail.wisc.edu
It looks as if your fetchmail is configured to deliver to the local
SMTP listener, but your new FC3 config does not have one :)