What could this panic log mean

Question

O.K I was viewing a movie in iTunes and got the kernel panic screen. Restarted, then I was in iPhoto and the whole screen seemed to disintegrate.
this time I couldn't restart. Got the three chimes and flashing light deal. swapped RAM around and then machine can boot with both sticks in place. More freezes, more kernel panics. One restart to black screen only (yikes)
I have zapped PRAM and run disk repair from Tiger Install disk. (said no repairs neccesary) . I dont have a hardware test disk
I don't know what to do next and was hoping someone may see something in this log
Thu Oct 26 21:58:15 2006
Unresolved kernel trap(cpu 0): 0x600 - Alignment DAR=0x0000000001C2EEEE PC=0x00000000000A3FC0
Latest crash info for cpu 0:
Exception state (sv=0x3B04D780)
PC=0x000A3FC0; MSR=0x00009030; DAR=0x01C2EEEE; DSISR=0x000000A0; LR=0x0001F0AC; R1=0x175CBCE0; XCP=0x00000018 (0x600 - Alignment)
Backtrace:
0x02416104 0x00027B88 0x000388F0 0x0026E804 0x0026DEC8 0x002AAE28
0x000AB930 0x00000000
Proceeding back via exception chain:
Exception state (sv=0x3B04D780)
previously dumped as "Latest" state. skipping...
Exception state (sv=0x3B2B6000)
PC=0x9003C1AC; MSR=0x0200F030; DAR=0xE06F5888; DSISR=0x40000000; LR=0x90374B7C; R1=0xBFFFD490; XCP=0x00000030 (0xC00 - System call)
Kernel version:
Darwin Kernel Version 8.8.0: Fri Sep 8 17:18:57 PDT 2006; root:xnu-792.12.6.obj~1/RELEASE_PPC
panic(cpu 0 caller 0xFFFF0006): 0x600 - Alignment
Latest stack backtrace for cpu 0:
Backtrace:
0x00095138 0x00095650 0x00026898 0x000A7E04 0x000AB780
Proceeding back via exception chain:
Exception state (sv=0x3B04D780)
PC=0x000A3FC0; MSR=0x00009030; DAR=0x01C2EEEE; DSISR=0x000000A0; LR=0x0001F0AC; R1=0x175CBCE0; XCP=0x00000018 (0x600 - Alignment)
Backtrace:
0x02416104 0x00027B88 0x000388F0 0x0026E804 0x0026DEC8 0x002AAE28
0x000AB930 0x00000000
Exception state (sv=0x3B2B6000)
PC=0x9003C1AC; MSR=0x0200F030; DAR=0xE06F5888; DSISR=0x40000000; LR=0x90374B7C; R1=0xBFFFD490; XCP=0x00000030 (0xC00 - System call)
Kernel version:
Darwin Kernel Version 8.8.0: Fri Sep 8 17:18:57 PDT 2006; root:xnu-792.12.6.obj~1/RELEASE_PPC
any help appreciated

Answer 1

The three beeps on startup indicates none of your RAM passed the power-on self-test (see Power On Self-Test Beep Definition). The 0x600 flag indicates a memory word alignment exception (see about 2/3 of the way down the page at I/O Kit Device Driver Design Guidelines: Two-Machine Debugging) which further points to bad memory. You can try to download Memtest to further verify that the RAM is bad.
Was the computer recently exposed to any sort of power line surge? Be aware that common MOV-based low-cost surge protectors degrade over time and lose effectiveness (the status LEDs on such surge protectors are essentially meaningless). You may want to try at least one DIMM of known-good RAM; Crucial is an excellent source for memory.