> Can you please provide some more info such as .config file you used to build kernel?
attached and also available at http://kuszelas.eu/~eyck/config-2.6.24

> Maybe something else specific you have done/configured?
 can't recall anything exotic, with the same config and clean 2.6.24
machine boots OK.
 At first I though that the problem was with 'video=791',
but after changing this it looks like it restarts right after trying to
init processor 0. I ain't got rs232 in this machine, and I don't know what
other way could catch that boot sequence (I think netconsole initializes
way later)
 
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 Total Existance Failure