I'm running Ubuntu 64 bit 12.04.1 LTS. I see either a blinking cursor or a black screen if I try to boot all kernels beginning at 3.2.0-33 and later. Safe mode fails for those kernels as well.
However, my system boots fine and runs fine on kernel 3.2.0-32 as well as kernels previous to that.
I have seen other Z580 users with this same problem on other forums.