My suspicion is that it is booting, just that the graphics card
(driver) is messed up sufficiently that it's not able to bring up an
image. If you're able to boot from the CD/DVD, you should be able to
change the boot entry to add the keyword 'text' and remove the
gfxmode. If this works to boot it, but you're still having trouble
with seeing the screen at the end of the boot, then it's definitely a
graphics driver issue.
You might be able to do a recovery install with the DVD, without
erasing the contents of /home. Alternatively, if you've discovered
that the system is indeed booting (but you just can't see it), but you
previously activated SSHD, you should be able to SSH in and backup the
files that you want to see before attempting a reinstall.
Another approach is to pull the graphics card, connect your monitor to
the built-in graphics adapter, and boot that way. I've found that
some systems will come up that way when the graphics driver is screwed
up after an update.
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Tilghman