All of the jaunty builds since 20090316 are causing a kernel panic when booting from TFTP / PXE. Builds 20090226 and earlier do not exhibit this behaviour. The last few kernel messages are:
* Adding 62720k swap on /dev/ramzswap0. Priority:100 extents:1 across:62720k
* Begin: Running /scripts/live-premount ...
* Done.
* Kernel panic - not syncing: Attempted to kill init!
* Dumping ftrace buffer:
* (ftrace buffer empty)
The network adapter has not been initialised at this point as my DHCP server has not logged any request other than the initial TFTP request.
I have replicated this behaviour on both my laptop (Dell Inspiron 9300, 1.86GHz single-core Pentium M), and on Virtualbox 2.2.4 both with a single NIC and with two NICs.
Thanks for this bug report. Will try to fix it.
For the time being, maybe you can use testing Clonezilla live ?
This bug is closed since I believe this bug was fixed in 20090701-jaunty. If you find it's not, please reopen it. Thanks.