it seems I found the problem, and fixed it temporarily:
The reason ubuntu wouldnt boot with Hyperthreading enabled is because I had my 
new Belkin F5D7050 plugged in. 
http://catalog.belkin.com/IWCatProductPage.process?Product_Id=179211

When I unplugged this usb card I am now able to boot with Hyperthread,
after I noticed that I decided to recompile my ralink rt73 wifi driver
from http://rt2x00.serialmonkey.com/wiki/index.php/Downloads and plug my
usb card back in.

Once I did this, all was fixed, I hope this helps developers fix this
problem because gutsy and a few new releases are right around the corner

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P4 Hyperthread enabled wont boot generic Kernel
https://bugs.launchpad.net/bugs/138440
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