This site offers a workaround by installing a different kernel. http://tombuntu.com/index.php/2007/09/05/making-ubuntu-server-work-in-virtualbox/
In short: After booting from cd, select rescue a broken system then execute a shell from the root partition and execute the following apt-get update apt-get install linux-386 apt-get remove linux-server worked for me -- Panic: CPU too old (after installing Gutsy i386 server) https://bugs.launchpad.net/bugs/126863 You received this bug notification because you are a member of Ubuntu Bugs, which is the bug contact for Ubuntu. -- ubuntu-bugs mailing list ubuntu-bugs@lists.ubuntu.com https://lists.ubuntu.com/mailman/listinfo/ubuntu-bugs