Tried to boot the NCP 3 iso (nexenta-core-platform_3.0.1-b134_x86.iso) this morning to no avail. RHEL hypervisors are running KVM version 83. Grub boot menu comes up as expected:

GRUB screen
Boot proceeds and hangs for about one minute, then you see the following, then the VM hard resets:

Boot console
According to the guest support status page on the KVM site, versions 1 and 2 work under KVM. I’ll try a bare metal install at home tonight an see how that goes.
Turn off Enable ACPI and Enable APIC and you should find that it will boot.