I installed the panda-quantal_developer_20130128-58.img.gz on an old Pandaboard A1 and apt-get update got a new kernel and have overwritten the preEnv.txt boot=UUID=...hash... into boot=UUID=rootfs, only that rootfs is not a device.

It fell back to busybox saying couldn't find root, so I re-wrote the file to have the correct UUID and it booted correctly.

Not sure anyone has seen this, but seems like a simple bug to fix...

cheers,

--renato