Kernel panic after system update - can't boot :(

Question

Hi
I've applied some pending updates to the system while restarting my MBP (I'm not sure, but it probably has contained the update from 10.6.3 to 10.6.4) but now it won't boot - I get a kernel panic.
When I boot instead using an external USB drive with a 10.6.3 installation on it, I get the message about the panic (below).
Any ideas how to solve this would be VERY MUCH appreciated.
Thanks!
Fri Aug 13 03:23:05 2010
panic(cpu 1 caller 0x4f9be4): "IOBluetoothHCIController::_RESERVEDIOBluetoothHCIController59 called."@/SourceCache/xnu/xnu-1504.3.12/libkern/c++/OSMetaClass.cpp:906
Backtrace (CPU 1), Frame : Return Address (4 potential args on stack)
0x82cd3a98 : 0x21b449 (0x5ce420 0x82cd3acc 0x2238a5 0x0)
0x82cd3ae8 : 0x4f9be4 (0x5cef90 0x814b0de8 0x814b0de8 0x3b)
0x82cd3b08 : 0x81486ba4 (0x814bc114 0x3b 0xcad3540 0x0)
0x82cd3b28 : 0x82f21d7f (0xc1c1e00 0xc9ff194 0x2 0x82ec3c03)
0x82cd3b78 : 0x82f22b6a (0xc9ff100 0x0 0x0 0xc9d6f00)
0x82cd3dc8 : 0x82ec31dc (0xc9ff100 0xc9fc300 0x82cd3df8 0x4faec3)
0x82cd3df8 : 0x82f20dc0 (0xc9ff100 0xc9fc300 0x82cd3e28 0xcacc780)
0x82cd3e18 : 0x5382aa (0xc9ff100 0xc9fc300 0x1 0x4fb2b4)
0x82cd3e78 : 0x5364df (0xc9fc300 0xc9ff100 0xcaccb80 0xca660e0)
0x82cd3f28 : 0x536a70 (0xc9fc300 0xcac9900 0x0 0x50aea4)
0x82cd3f78 : 0x53871f (0xc9fc300 0x8 0x82cd3fac 0x1)
0x82cd3fc8 : 0x29e6cc (0xcb41210 0x0 0x29e6db 0xc62f000)
Kernel Extensions in backtrace (with dependencies):
com.apple.driver.IOBluetoothSCOAudioDriver(2.3.7f1)@0x82f1f000->0x82f25fff
dependency: com.apple.iokit.IOAudioFamily(1.7.6fc2)@0x82ebf000
dependency: com.apple.iokit.IOBluetoothFamily(2.3.1f4)@0x81480000
com.apple.iokit.IOAudioFamily(1.7.6fc2)@0x82ebf000->0x82ed6fff
dependency: com.apple.kext.OSvKernDSPLib(1.3)@0x8147c000
com.apple.iokit.IOBluetoothFamily(2.3.1f4)@0x81480000->0x814bcfff
BSD process name corresponding to current thread: kernel_task
Mac OS version:
10F569
Kernel version:
Darwin Kernel Version 10.3.0: Fri Feb 26 11:58:09 PST 2010; root:xnu-1504.3.12~1/RELEASE_I386
System model name: MacBookPro5,1

Answer 1

Kappy, I have various bluetooth devices (headset, wireless wacom tablet, etc) that I use from time to time, but the kernel panic happens very early in the boot process.
When I tried booting in safe mode (holding shift), I got the panic much sooner, but of a different type now:
Fri Aug 13 04:35:52 2010
panic(cpu 1 caller 0x474607): "Process 1 exec of /sbin/launchd failed, errno 2\n"@/SourceCache/xnu/xnu-1504.3.12/bsd/kern/kern_exec.c:3146
Backtrace (CPU 1), Frame : Return Address (4 potential args on stack)
0x7ab83e48 : 0x21b449 (0x5ce420 0x7ab83e7c 0x2238a5 0x0)
0x7ab83e98 : 0x474607 (0x5c06ac 0x831b68 0x2 0x0)
0x7ab83ef8 : 0x45e836 (0x5a22d20 0x1fe 0x575ca80 0x80000001)
0x7ab83f38 : 0x484da2 (0x57fdb7c 0x73aa5000 0x7ab83f88 0x7ab83f94)
0x7ab83f68 : 0x219044 (0x57fdb7c 0xffffff7f 0x0 0x575eb7c)
0x7ab83fa8 : 0x2a7a07 (0xffffffff 0x1 0x22f250 0x575eb7c)
0x7ab83fc8 : 0x29e8a6 (0x0 0x0 0x29e6db 0x524c0e0)
BSD process name corresponding to current thread: init
Mac OS version:
Not yet set
Kernel version:
Darwin Kernel Version 10.3.0: Fri Feb 26 11:58:09 PST 2010; root:xnu-1504.3.12~1/RELEASE_I386
System model name: MacBookPro5,1