I have the same problem. My system info is here:
Software
Ubuntu 7.04 32bit
Kernel 2.6.20-16-386
Hareware
Acer 5595i
I tried use CLOCKFLAGS="--directisa", invoke /sbin/hwclock command, suggested
by thread
http://linux.derkeiler.com/Mailing-Lists/Fedora/2005-04/4968.h
*** This bug is a duplicate of bug 89853 ***
https://bugs.launchpad.net/bugs/89853
7.04 DVD ISO version have the same problem on my ACER 5595i laptop. My laptop
video chipset is ATI mobile radeon X1600,
when I boot in 7.04 livecd, xserver told can't found screen. Neither did the
safe graphic