I'm still looking at this prompt even while using noapic, nolapic, acpi=off and pnpbios=off as per suggested on salmo's dmesg output.
BusyBox v1.1.3 (Debian 1:3-4ubuntu3) Built-in shell (ash)
Enter 'help' for a list of built-in commands.
/bin/sh: can't access tty; job control turned off
Any other suggestions?
Also from salmo's dmesg looks like bug #92088 is still a problem on this release.