Original bug reported on launchpad: https://bugs.launchpad.net/ubuntu/+source/linux/+bug/510571 Kernels past a specific version won't boot along with acpi in virtualbox Boot hangs at either "Checking 'hlt' instruction... OK." OR "SMP alternatives: switching to UP code" (at which point virtualbox uses close to 100% cpu also) Booting with the acpi=off flag, or disabling acpi in virtualbox allows normal boot. version 2.6.32-10.14 (ubuntu) based on 2.6.32.2, works fine version 2.6.32-11-15 (ubuntu) based on 2.6.32.4 is the first to exhibit the issue along with later version 2.6.33-999.201001191335 (ubuntu mainline daily) based on long<v2.6.33-rc4-399-g24bc734> commit 24bc7347da73a9ed3383056c3d0f28c0e361621e and version 2.6.33-999.201002061003 (ubuntu mainline daily) based on: long<v2.6.33-rc6-228-g56dca4c> commit 56dca4ceb7b39aa4173aa1cb822c860ced2be1ec ...which fails similarly.
According to comments on the launchpad bug, this seems to be a problem in virtualbox rather. Closing.