Since upgrading from hardy to Intrepid I have a similar issue.  I had
set Hardy up with static IP and on upgrade to Intrepid, I have no nm-
applet   I am online, but can't manage my nic.  It gives me the read
only message mentioned above.  Oddly, the Network Configuration shows I
have 2 nics, eth0 and eth1.  eth0 has no mac address and eth 1 has a mac
address.  My system only has 1 nic and no wireless, about as simple as
it gets.  attempting an /etc/init.d/networking restart results in an
error stating it can't resolve eth0.  I need to remove the eth1 entry
and properly set up eth0, but can't.

Here is my interfaces file:
# This file describes the network interfaces available on your system
# and how to activate them. For more information, see interfaces(5).

# The loopback network interface
auto lo
iface lo inet loopback

# This is a list of hotpluggable network interfaces.
# They will be activated automatically by the hotplug subsystem.


Here is my nm-system-settings.conf:
[main]
plugins=ifupdown,keyfile

[ifupdown]
managed=false

If I go into my bios and disable the onboard nic, the nm-applet will
appear in the top panel showing no defined interfaces.  Network
Configuration still shows my "phantom" eth0 and eth1 and neither has an
ip address or mac address assigned.

If I could just get rid on the phantom eht1 and configure eth0, I
suspect things would be back to normal.

-- 
[regression] devices/interfaces not set to "auto" in /etc/network/interfaces 
get blacklisted in 0.7 (intrepid) but were managed in 0.6 (hardy and before)
https://bugs.launchpad.net/bugs/279262
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