For some reason Ubuntu failed to boot and I got the following message "Ubuntu: Gave up waiting for root device". I found out that the easiest way to get over this without losing data was to reboot your PC with the instalation CD in. When propted for installation go for the full install and when asked about partition keep your original installation in one partition and this new one on another one (do not delete the old partition!). At some point of the installation the wizard will ask if you want to import settings from your other partition, say Yes. Once installation is over, restart and chose the new partition, you should be able to enter your old partition using the new partition with the old username and password.
There is a pretty good explanation on this at http://www.dedoimedo.com/computers/ubuntu-initrd-bug.html
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