While working on the graphical version of the boot menu for the linuxuser 
edition I was thinking about providing a graphical boot menu for our official 
releases.

vesamenu (via isolinux) seems to work fine at least for Qemu and Virtualbox 
nowadays. Would be interesting to know whether this works via a serial console 
as well (feedback welcome).

On the other hand there's the gfxboot approach (also via isolinux possible):

http://packages.ubuntu.com/karmic/gfxboot-theme-ubuntu
https://launchpad.net/ubuntu/+source/gfxboot
http://en.opensuse.org/Gfxboot

gfxboot looks nice but I've no idea whether this works on older systems as well 
or if this *could* be a showstopper for us nowadays. But it definitely requires 
more work in its initial configuration of the look'n'feel and all the menus. If 
someone would provide the gfxboot stuff for grml this would be great. :)