Fedora 12 kernel not syncing

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http://forums.fedoraforum.org – I did a yum upgrade from Fedora 11 to Fedora 12. I can still use the Fedora 11 kernel just fine. When I try to boot with the Fedora 12 kernel, it failed during udev with "Kernel Panic. Not syncing. Out of memory and no killable processes." I have no clue how to troubleshoot this problem since I cannot get the Fedora 12 kernel to any usable state. I've removed the kernel and reinstalled it multiple times. I've installed random firmware packages suggested throughout the web. I've tried to boot to console-only. Everything I do produces the same result - a kernel panic. Is there any magic trick to make the kernel stop panicking and actually boot up? (HowTos)