There is quiet and splash on the regular entries there. Try editing /boot/grub/menu.lst and remove the quiet and splash from the first entry and reboot.
Remove the quiet and splash from this entry of the latest kernel version (2.6.24-24)
export EDITOR=gedit # or whichever is your favorite texteditor
title Ubuntu 8.04.2, kernel 2.6.24-24-generic
kernel /boot/vmlinuz-2.6.24-24-generic root=UUID=9caaecf2-da76-4d5c-856b-ed5cb609b01f ro quiet splash