[FC3] kernel-2.6.11-1.14_FC3 freezes on boot

[Slava Bizyayev]

I use kernel-2.6.10-1.770_FC3 on my HP OmniBook XE2 pretty happily.
After updating kernel to kernel-2.6.11-1.14_FC3 I experience a strange
behavior -- in the end of the boot (instead of X-login screen) machine
freezes, and I cannot even get the terminal access with ctrl-alt-F1. Has
someone experienced something similar? What's the work around?

Thanks,
Slava