Here is what I'm encountering:

root@ubuntu:/etc# update-initramfs -c -k 2.6.24-23-generic
update-initramfs: Generating /boot/initrd.img-2.6.24-23-generic
cat: /proc/cmdline: No such file or directory

I've been working on it for a couple days... no success.

The problem started when I made come changes to my crypto setup and then attempted to run update-initramfs afterwards. However, now I have backed out my changes (I think), and I still cannot run update-initramfs without getting this message. And my system will not boot of course.

Looking for some advice.

Wow, I worked on it for 2 days and couldn't figure it out. Then, within half hour of posting my question, I figured it out.

I did this:
ubuntu@ubuntu:/media/target/root/boot$ sudo mount --bind /proc /media/target/root/proc
ubuntu@ubuntu:/media/target/root/boot$ sudo mount --bind /dev /media/target/root/dev
ubuntu@ubuntu:/media/target/root/boot$ sudo mount --bind /sys /media/target/root/sys

Then I ran update-initramfs again.

No more errors reported.

Now, I hope it will boot up...