I have tried this on a brand new latest Xubuntu disk, and then on an old regular Ubuntu 10.10 disk. Both result in the same thing (and I would prefer to use Xubuntu, if possible.)
I have tried running the installer straight from the disk, or inside the "Try Ubuntu" live session. Both result in the installer either hanging or otherwise refusing to continue past "Preparing to install ".
I ran Ubiquity with --debug and have the results posted here.
Is Ubiquity just taking an abnormally long time to proceed? Is something wrong? I'm attempting to install on a freshly formatted 80 gig hard drive (in the ext4 format). If more information is needed, I can provide.