I have tried removing the 'quiet rghb' AND Nothing shows after 5+ minutes. Booting back to the F16 kernel is fine - shows failing to access perfctr msr after say 5 seconds but continues to boot just fine.
initramfs is not '0' length.
Even tried upgrading via FedUp to F18 to see if it was just something funky with the F17 release, but that too hangs at the exact same spot.
Also running under VMWare 2.02 server which should be ok as far as I know, but maybe it's incompatible now?