Unable to boot after updating to kernel-3.1.4-1 in fedora 16

I was using kernel-3.1.2-1 in fedora 16. then updated to kernel-3.1.4-1. after reboot now grub shows command prompt instead of boot menu. i tried to load manually with:

set root=(hd0,msdos3)
linux /vmlinuz-3.1.4-1.fc16.x86_64
initrd /initramfs-3.1.4-1.fc16.x86_64.img

but in the middle of booting it shows something like kernel panic and stops. I tried this with previous kernel (3.1.2-1) but it shows the same output. here is my grub.cfg:

### BEGIN /etc/grub.d/00_header ###
if [ -s $prefix/grubenv ]; then
  load_env
fi
set default="0"
if [ "${prev_saved_entry}" ]; then
  set saved_entry="${prev_saved_entry}"
  save_env saved_entry
  set prev_saved_entry=
  save_env prev_saved_entry
  set boot_once=true
fi

function savedefault {
  if [ -z "${boot_once}" ]; then
    saved_entry="${chosen}"
    save_env saved_entry
  fi
}

function load_video {
insmod vbe
insmod vga
insmod video_bochs
insmod video_cirrus
}


set timeout=5
### END /etc/grub.d/00_header ###

### BEGIN /etc/grub.d/10_linux ###
menuentry 'Fedora (3.1.4-1.fc16.x86_64)' --class fedora --class gnu-linux --class gnu --class os {
    load_video
    set gfxpayload=keep
    insmod gzio
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo 'Loading Fedora (3.1.4-1.fc16.x86_64) ...'
    linux    /vmlinuz-3.1.4-1.fc16.x86_64 root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo 'Loading initial ramdisk ...'
    initrd /initramfs-3.1.4-1.fc16.x86_64.img
menuentry 'Fedora (3.1.2-1.fc16.x86_64)' --class fedora --class gnu-linux --class gnu --class os {
    load_video
    set gfxpayload=keep
    insmod gzio
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo 'Loading Fedora (3.1.2-1.fc16.x86_64) ...'
    linux    /vmlinuz-3.1.2-1.fc16.x86_64 root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo 'Loading initial ramdisk ...'
    initrd /initramfs-3.1.2-1.fc16.x86_64.img
}
submenu "Xen 4.1.2" {
menuentry 'Fedora Linux, with Xen 4.1.2 and Linux 3.1.4-1.fc16.x86_64' --class fedora --class gnu-linux --class gnu --class os --class xen {
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo    'Loading Xen 4.1.2 ...'
    multiboot    /xen-4.1.2.gz placeholder
    echo    'Loading Linux 3.1.4-1.fc16.x86_64 ...'
    module    /vmlinuz-3.1.4-1.fc16.x86_64 placeholder root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo    'Loading initial ramdisk ...'
    module    /initramfs-3.1.4-1.fc16.x86_64.img
}
menuentry 'Fedora Linux, with Xen 4.1.2 and Linux 3.1.4-1.fc16.x86_64 (recovery mode)' --class fedora --class gnu-linux --class gnu --class os --class xen {
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo    'Loading Xen 4.1.2 ...'
    multiboot    /xen-4.1.2.gz placeholder
    echo    'Loading Linux 3.1.4-1.fc16.x86_64 ...'
    module    /vmlinuz-3.1.4-1.fc16.x86_64 placeholder root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro single rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo    'Loading initial ramdisk ...'
    module    /initramfs-3.1.4-1.fc16.x86_64.img
}
}
submenu "Xen syms-4.1.2" {
menuentry 'Fedora Linux, with Xen syms-4.1.2 and Linux 3.1.4-1.fc16.x86_64' --class fedora --class gnu-linux --class gnu --class os --class xen {
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo    'Loading Xen syms-4.1.2 ...'
    multiboot    /xen-syms-4.1.2 placeholder
    echo    'Loading Linux 3.1.4-1.fc16.x86_64 ...'
    module    /vmlinuz-3.1.4-1.fc16.x86_64 placeholder root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo    'Loading initial ramdisk ...'
    module    /initramfs-3.1.4-1.fc16.x86_64.img
}
menuentry 'Fedora Linux, with Xen syms-4.1.2 and Linux 3.1.4-1.fc16.x86_64 (recovery mode)' --class fedora --class gnu-linux --class gnu --class os --class xen {
    insmod part_msdos
    insmod ext2
    set root='(hd0,msdos3)'
    search --no-floppy --fs-uuid --set=root 41a4bc4d-ff84-4666-a75f-6addb3b7db59
    echo    'Loading Xen syms-4.1.2 ...'
    multiboot    /xen-syms-4.1.2 placeholder
    echo    'Loading Linux 3.1.4-1.fc16.x86_64 ...'
    module    /vmlinuz-3.1.4-1.fc16.x86_64 placeholder root=UUID=ba8be145-4880-47d2-8fdf-7115d33c59df ro single rd.md=0 rd.lvm=0 rd.dm=0  KEYTABLE=us quiet SYSFONT=latarcyrheb-sun16 rhgb rd.luks=0 LANG=en_US.UTF-8
    echo    'Loading initial ramdisk ...'
    module    /initramfs-3.1.4-1.fc16.x86_64.img
}
}
### END /etc/grub.d/20_linux_xen ###

### BEGIN /etc/grub.d/30_os-prober ###
menuentry "Microsoft Windows XP Professional (on /dev/sda1)" --class windows --class os {
    insmod part_msdos
    insmod ntfs
    set root='(hd0,msdos1)'
    search --no-floppy --fs-uuid --set=root 0064D65C64D653CE
    drivemap -s (hd0) ${root}
    chainloader +1
}

Could anyone help?

[Edit] However I I tested now, I can boot windows with:

set root=(hd0, msdos1)
chainloader +1
boot

[Edit] Here is the screenshot: