Hardware: Lenovo X200s with Mushkin Europe 2 120GB SSD instead of default Seagate 5000rpm disk. Boot to fully functional (default) Jaunty desktop from cold start (powered off) is less than 30 seconds. If BIOS, grub and kernel/initrd loading are excluded, boot time is less than 10 seconds.
Video:
http://www.init.hr/dev/fast-boot.mp4
Except the automatic login in gdm there were *no* other changes in Ubuntu.