PRAM means Parameter RAM. PRAM is pronounced "Pee-Ram" (just so you don't get confused)
http://support.apple.com/kb/HT1379
Check out that link.
I think PRAM stands for Permanent Random Access Memory
so its essentially a type of RAM that is permanently saved (assuming you understand what RAM (Random Access Memory) to your hard drive.) It saves data scuh as Start up disk... or the system time.
Although ill admit i could be wrong... only reason i can imagine PRAM messsing you up is if it it became corrupted
What I think is wrong is a corrupted upgrade from the restarting you computer during upgrade. Hard restarts (restart where you force the hardware to shut down by holding the power button) during an upgrade is giant
NO-NO!
I would have thought you knew that from windows or whatever OS you used to use. (ubtuntu, Fedora, etc.) that you knew better, so just be happy that things still semi-work! =]
you might have to re-install OS X with the grey disks that came with your computer. But if your not ready to do tht I would recomend downloading the "combo updater" and installing that CORRECTLY, that may fix your problems.
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If that doesn't fix your problems, my next step would be ready to blame your hardware (since its a new computer) and from there i would run a hardware test (again with those grey disks that came with your computer)