You have a macbook pro and you have just upgraded to the latest 10.7 Lion osx. A lot of discussions arround the internet are indicates that Apple has an issue with Macbook pro mid 2010 that has the Nvidia 330M graphics card chip.

You will get a black screen during any use of graphic application (iPhoto, Photobooth etc). After a hard reboot you will see a kernel panic report telling you there was a problem with NVRM.
Here is part of the crash report:

panic(cpu 0 caller 0x9d4c97): NVRM[0/1:0:0]: Read Error 0x00000100: CFG 0x0a2910de 0x00100000 0x00000000, BAR0 0xc0000000 0xa6fce000 0x0a5480a2, D0, P3/4
Backtrace (CPU 0), Frame : Return Address (4 potential args on stack)

It seems like there is an issue with the drivers from apple or the firmware of the graphics card from Nvidia. I personally have the same issue with my i5 machbook pro(mid 2010). I had the same issue in the past with Snow Leopard and bootcamp running windows 7. I took my Mac to Apple to address the problem and they replaced the logic board.
After I upgraded to Lion I had to take my MBP to Apple AGAIN, and the genius said that it looks like they need to replace the logic board AGAIN, lucky me my MBP is still under warranty.

So something doesn’t look so good – It seems that something in this model is corrupting the Nvidia chip, hence, a logic board replacement will be required.

If you have the same issue, please comment here and lets find an answer to this problem. I hope Apple will admit there is something wrong with this model and address this issue once and for good.

UPDATE: A commenter noted that Apple Care support technicians have offered another solution which appears to have permanently solved the problem on his machine. Navigate to ~/Library/Preferences/ByHost/, delete any files that contain “windowserver,” and reboot the machine. The procedure may need to be repeated if you regularly connect to an external monitor once it is also connected.
Let us know how it worked for you.

UPDATE: I just got my MBP back from Apple, they have replaced the logic board, again. I guess we have bad news then, if you lost your warranty then it seems like you will have to pay for a new logic board. This is just a matter of time now till my logic board will corrupt again. Just take your MBP to Apple.

It seems like this post gets a lot of readers. I really hope apple will fix this ASAP. Anyway, If you have a jailbreakon iPhone then I would like to interest you with an application I made, iBackapp, its free and will help you backup your iPhone data.