The same here an my desktop machine, using ati rage 128 chip. If I'm setting up the vesafb-framebuffer for 1024x768 resolution, it works well, but the console then is black and therefore unusable.
** Changed in: usplash (Ubuntu)
Status: Unconfirmed => Confirmed
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usplash disappears halfway through boot
https://launchpad.net/bugs/60129
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