@NoWhereMan I finally tried your options, that is "pnpbios=off acpi=force"
It works :) I'm running the latest kernel now, that is -10.30 and it boots 
wothout problems. I also tried adding only "acpi=force" and it boots as well.
But in my opinion it's still broken. I wouldn't expect any newbie editing his 
grub menu.lst... I'm adding my kernel panic screenshot, because it looks a bit 
different than the ones seen here. I hope it will help somehow. Thanks

** Attachment added: "Screenshot"
   http://librarian.launchpad.net/4791597/DSCN3528.JPG

-- 
[edgy] kernel panic after last update
https://launchpad.net/bugs/61848

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