Kernel Panic

[Jim]

Fedora 18

Did a update and reboot, got a kernel panic in NEW kernel can't get into 
Linux.

At Bootup at kernel Window I tried to hit Down-Arrow to goto second 
kernel in menu but hitting Down-Arrow won't respond.

I guess i will have to go into the back door with a Fedora-18-Netinst CD 
and do the following procedure;

chroot /mnt/sysimage
su
cd /boot/grub2
vi grub.cfg

To the first Menu-list and remove NEW kernel , so it will boot on second 
older kernel.

Am i using the best procedure to get rid of the NEW kernel ?