Ubuntu 12.04 Sudden and Unexpected Boot Failure

Hello All,

This is my first post on this forum after using Ubuntu since Karmic. I have recently upgraded from Lucid 10.04 LTS to Precise 12.04 LTS.
The actual upgrade went well and I had a fully functioning system with no real issues except for a slight performance drop. Nautilus was laggy and hanged when accessing large directories. (10K + files).
During my efforts to troubleshoot this issue I have evidently caused a problem which is preventing me from booting into the system. All I remember doing really is benchmarking using Disk Utility. I have not changed any config. Finally I rebooted the system at which point it refused to boot up.
It keeps looping from Dell Boot screen to the Intel Raid Screen with the CTRL+I option and back again.
I do see a quick loading grub... before it restarts again.

Based on this I created a Boot Repair disk and used it to repair my system.

Here is the information before I made any changes, just the report:

http://paste.ubuntu.com/6124965/

Here is the info after changes:

http://paste.ubuntu.com/6125039/

Please help.

Cheers.

Hardware Info:
Intel Core 2 Duo 3GHz x 2
X86-64
8GB Ram DDR3 1066 MHz
320 GB Seagate Barracuda 7200 with RAID0
Radeon HD 3450