Upgrading 8.10->9.04RC messes up boot with encrypted HD and LVM

After a upgrade to 9.04RC the proper boot settings are gone.
I have installed 8.10 with the whole HD encrypted with a password and LVM to set up root, home and swap partitions.
The newly installed 9.04 kernels ignores the old settings and I no longer get to enter a password. After a while the computer boots into BusyBox saying:
 "Check cryptopts=source= bootarg cat /proc/cmdline or missing modules, devices: cat /proc/modules ls /dev -r ALERT! /dev/disk/by-uuid/LONGID does not exist. Dropping to a shell!"