Where's that drive? Could not find filesystem '/dev/root'

If you see this on the remote console:

mount: could not find filesystem '/dev/root'
setuproot: moving /dev failed: No such file or directory
setuproot: error mounting /proc: No such file or directory
setuproot: error mounting /sys: No such file or directory
switchroot: mount failed: No such file or directory
Kernel panic - not syncing: Attempted to kill init!

Ask yourself the following: Was the e2label for the root partition been changed?
The LABEL must match in /etc/fstab and grub.conf

LABEL=/ / ext3 defaults 1 1

Solution:

1. Powercycle the system.
2. At the boot menu, edit the grub configuration.
3. Continue with the boot process
4. login
5. su as root
6. view LABEL of the boot partition e.g. e2label /dev/sda1
7. compare with /etc/fstab and /etc/grub.conf values.
8. Edit files as needed.

Remember to make a copies before editting files! e.g.
cp -p /etc/grub.conf /etc/old/grub.conf.20090710