Seems like you are missing a SATA driver for your southbridge to which those drives are connected?
I once had the same problem with a system where I could install Fedora 10, but the moment it had to boot for the first time from the HDD it stopped with much the same error.
The fix was to add the parameter
to the end of the kernel boot line in /boot/grub.conf (just after the word "quiet" on the line).
Maybe you can try this?