13'' MBP grey screen of death!

[jumbb]

Hi!
I was using my computer this morning when it suddendly stopped working, i could move the cursor but couldn't open or close anything so i restarted it using the power button, when it was on, the same happened, i could move my cursor but i couldn't click on anything!
I restarted it again and now all i get is to the initial white screen with the apple logo and a never-stopping turning wheel!
I tried rebooting it with the MacOSX disc that came with my mac, it worked but i'm afraid if i'll lose anything after rebooting, since I already upgraded it to Lion...
Any help will be appreciated!

 

[jumbb]

I also tried turning it on and holding CMD+ALT+P+R...still same white screen and mac logo...

 

[jumbb]

After leaving it for about 15 minutes, I can now see my wallpaper, the little colored ball and a note that I made with the notes app, I can't see the dock though, or anything else...

 

[shortcut3d]

It sounds like a failing hard drive. Boot from the disk that came with your MBP and got to disk utilities. Click on Macintosh HD and run the diagnostics ie verify and repair permissions. The verify will let you know if the drive is failing.

 

[simsaladimbamba]

About "You need to restart your computer" (kernel panic) messages
Resolving Kernel Panics
Mac OS X: How to log a kernel panic