Please, I need help!

Using yast2 wagon (and a couple of reboot) I upgraded from SLES11 SP1 to SP2.
Everything seemed to be OK, but now my machine (HP DL585G2 with 70 TB of data) doesn't boot anymore.

At boot the green SUSE splash images is properly shown, but after a while the screen becomes black in character interactive mode waiting for keyboard input. If I type a return the dollar sign is the prompt. I can type a few commands as ls, pwd, cd /etc but to let the boot process to continue I have to type exit or control-d. After exiting the sh the boot sequence halts forever due to problems with disks (but I hope they are due to the first problem).

Here a some bad (to me!) boot message printed just before the console starts waiting for user input:

Trying manual resume from /dev/disk/by-id/cciss-xxxxxxxxxxxxxxx-part1
Invoking user space resume from /dev/disk/by-id/cciss-xxxxxxxxxxxxxxx-part1
resume: libcrypt version 1.5.0
Trying manual resume from /dev/disk/by-id/cciss-xxxxxxxxxxxxxxx-part1
[10.673421] PM starting manual resume from disk
Invoking in-kernel resume from /dev/disk/by-id/cciss-xxxxxxxxxxxxxxx-part1
Waiting for device /dev/disk/by-id/cciss-xxxxxxxxxxxxxxx-part2 to appear: ok
Invalid root file system: exiting to /bin/sh
[64.223233] rport-0:0-4: blocked FC remote port time out: removing rprot

After the above messages the console is waiting for keyboard input.
If I type the return key, a dollar sign is the new prompt.
When I type exit the boot sequence starts again but it hangs after a lot of complains
about devices not ready

As you imagine my users will be really upset on monday morning!

Can anybody help me?

If I boot from SP2 DVD and choose REPAIR can I have back my system as it was before?

Thanks a lot for any help,
Emanuele Lombardi