Hi -- I also have a 24" c2d iMac, but the Early 2008 2.8 GHz model, and was until very recently running 10.6 also.
I somewhat remember the two shades of blue screens. My impression was that they showed up late in the boot-up process. In any case, my first action would be to find the original Apple OS X DVD that you got with your machine (probably it's 10.5 Leopard). Try to boot with that -- does it work?
If so, there should be a way to run the Apple Hardware Test (AHT) program from that boot DVD.
A re-install of OS X or a restore from your backups could fix the problem, or there might be a hardware problem with the HDD, for example.
Hope something turns up. I've been really happy with my trusty old iMac!