Comment 5 for bug 1047531

Also the VM in hanged state uses exactly 36 Mb of memory out of allocated 512Mb and spins indefinitely using 100% CPU (sometimes sligntly more: 102% or 104%). Probably, this memory usage corresponds to the kernel+initrd.

I have enabled GRUB debug output, but never seen it telling anything about launching the kernel. So it looks that hang happens in GRUB (which is consistent with the observation that all other Precise images hang in the same way, irrespectively of kernel options).