EXACTLY the same problem here.
I bought a 15" 2.4GHz MBP earlier this evening.
Seemed fine to start with, I let it charge up. Didn't bother installing any apps, just ran the software updates.
Unplugged the power cord so I could calibrate the battery. I only had Safari running and it was while I was setting up iChat (entering .mac user info) that I encountered my first kernel panic. This was only about an hour or so after opening the box.
Restarted... started Safari again, started iChat again, got the second kernel panic at exactly the same point again.
Restarted again. This time it stayed up a little longer and I managed to get iChat set up but wasn't then able to use it. It took ages to connect and was beachballing and this can't have been an iChat/AIM error as I'd previously just been connected on my iMac.
Started noticing time-outs and "you are not connected to the internet" errors in Safari - very weird I thought as my iMac and PowerBook were both still fine, so not an ISP or router problem.
I decided to try ethernet instead. When I plugged the cable in, suddenly I had internet access again. So unplugged it again, turned airport off and then on again. Kernel panic number 3.
Restarted... this time it seemed to take ages at the initial grey screen with the spinner thing. After a few minutes the screen went from grey to blue, still with the spinny thing. This must have been going for a good 10 mins or more... eventually I just had to power it off and on again.
Restarted again... it spent a very long time at the grey spinny screen again but eventually booted up properly.
Couldn't maintain a wireless signal at all - it either won't connect or stay connected to my wireless network, whilst my other macs are fine.
When it says it's connected wirelessly I then cannot use iChat video.
As soon as I plug the ethernet cable in and turn Airport off it's fine.
My panic logs all say the same thing - relating to the "Airport.Atheros" thing that other people have posted. And they all happened whilst running on battery power too. Sound familiar?
Other issues - fairly high temp (73 deg C at one point) and fans just went crazy at over 6,000rpm for a few minutes for no apparent reason.
I'm gonna return this machine to the store and ask for a replacement but just wanted to mention the issues as they seem similar to what others have experienced.
Has anyone else had the blue screen hang on startup?