I wanted to chime in here too. I've been following this topic for 6-8 months and finally decided to give the kext replacement a try.
I'm on a 24" 8,1 iMac 2.8GHz ATI2600 with 6GB of RAM running ML 10.8.1. I've had these "black screen" type of crashes roughly every other day for months. My son, who games on a 20" 8,1 iMac 2.66GHz ATI2600 with 4GB of RAM on Lion also experiences these crashes as well, but his will crash multiple times a day. I had installed smcFanControl on both machines some time ago and it seemed to actually stretch out the time between crashes when running the fans at high speed, but it didn't eliminate them.
Six days ago I swapped out the suggested kexts (ATI2600Controller, ATIFramebuffer, ATISupport) with ones from 10.6.2. I also set smcFanControl to the "default" fan speed, which basically puts the fan speed control back on "automatic" and runs at the speed the system tells them to (very slow). I am happy to report that neither machine has experienced the "black screen" lock up / crash since installing these kexts and rebooting. Again, my son's machine would only go a few hours while he is gaming, and it is now running 6 days straight without a crash or reboot.
Just wanted to pass this on to anyone contemplating the kext swap. It is easy, painless and it works! Thanks to all who found this fix and pointed us to the appropriate websites/blogs on how to do it.