Comment 6 for bug 151942

Correction: it is a Dell Latitude D600. After searching around, it seems like this problem has something to do with PAE support compiled into the server kernel. I was able to install a working kernel by booting from the server install CD, launching a recovery shell, and running
apt-get install linux-generic

When booting, press ESC to enter the GRUB boot menu and select the -generic kernel (probably the third one in the list). (Even better, you can edit /boot/grub/menu.lst and make this the default kernel.)

This is the easy way out. Those feeling more adventurous can compile the server kernel without PAE support.