nvidia-current 295.49-0ubuntu1: nvidia-current kernel module failed to build

[sojourner]

Description: Ubuntu quantal (development branch)
Release: 12.10
nvidia-current 295.49-0ubuntu1
error occured during update via synaptic
error occured during generate initramfs
nvidia-current has been has been failing this way since kernel was updated to 3.4.0-1

ProblemType: Package
DistroRelease: Ubuntu 12.10
Package: nvidia-current 295.49-0ubuntu1
ProcVersionSignature: Ubuntu 3.4.0-1.3-generic 3.4.0-rc5
Uname: Linux 3.4.0-1-generic x86_64
ApportVersion: 2.0.1-0ubuntu7
Architecture: amd64
CompizPlugins: No value set for `/apps/compiz-1/general/screen0/options/active_plugins'
CompositorRunning: None
DKMSKernelVersion: 3.4.0-1-generic
Date: Fri May 4 19:41:14 2012
DistUpgraded: Fresh install
DistroCodename: quantal
DistroVariant: ubuntu
DkmsStatus: nvidia-current, 295.49: added
GraphicsCard:
 NVIDIA Corporation G73 [GeForce 7600 GS] [10de:0392] (rev a1) (prog-if 00 [VGA controller])
   Subsystem: XFX Pine Group Inc. Device [1682:2221]
InstallationMedia: Ubuntu 12.04 LTS "Precise Pangolin" - Release amd64 (20120425)
Lsusb:
 Bus 001 Device 001: ID 1d6b:0002 Linux Foundation 2.0 root hub
 Bus 002 Device 001: ID 1d6b:0001 Linux Foundation 1.1 root hub
PackageVersion: 295.49-0ubuntu1
ProcKernelCmdLine: BOOT_IMAGE=/boot/vmlinuz-3.4.0-1-generic root=UUID=3eeb4425-25db-4801-8043-1ad1e8f60fb1 ro quiet splash vt.handoff=7
SourcePackage: nvidia-graphics-drivers
Title: nvidia-current 295.49-0ubuntu1: nvidia-current kernel module failed to build
UnitySupportTest:
 Error: command ['/usr/lib/nux/unity_support_test', '-p', '-f'] failed with exit code 5: Xlib: extension "GLX" missing on display ":0".
 Error: GLX is not available on the system
UpgradeStatus: No upgrade log present (probably fresh install)
XorgConf:
 Section "Device"
  Identifier "Default Device"
  Option "NoLogo" "True"
 EndSection
dmi.bios.date: 06/10/2009
dmi.bios.vendor: Award Software International, Inc.
dmi.bios.version: FIb
dmi.board.name: GA-M55PLUS-S3G
dmi.board.vendor: Gigabyte Technology Co., Ltd.
dmi.chassis.type: 3
dmi.modalias: dmi:bvnAwardSoftwareInternational,Inc.:bvrFIb:bd06/10/2009:svn:pn:pvr:rvnGigabyteTechnologyCo.,Ltd.:rnGA-M55PLUS-S3G:rvr:cvn:ct3:cvr:
version.compiz: compiz 1:0.9.7.6-0ubuntu1
version.ia32-libs: ia32-libs N/A
version.libdrm2: libdrm2 2.4.32-1ubuntu1
version.libgl1-mesa-dri: libgl1-mesa-dri 8.0.2-0ubuntu3
version.libgl1-mesa-dri-experimental: libgl1-mesa-dri-experimental N/A
version.libgl1-mesa-glx: libgl1-mesa-glx 8.0.2-0ubuntu3
version.xserver-xorg-core: xserver-xorg-core 2:1.11.4-0ubuntu10.1
version.xserver-xorg-input-evdev: xserver-xorg-input-evdev 1:2.7.0-0ubuntu1
version.xserver-xorg-video-ati: xserver-xorg-video-ati 1:6.14.99~git20111219.aacbd629-0ubuntu2
version.xserver-xorg-video-intel: xserver-xorg-video-intel 2:2.17.0-1ubuntu4
version.xserver-xorg-video-nouveau: xserver-xorg-video-nouveau 1:0.0.16+git20111201+b5534a1-1build2