Q: Safe Boot has no impact at all.

Some wireless keyboards do not really activate until the operating system kicks in (which it isn't on your computer).  It depends upon the model.  That's why it is recommended you keep the original keyboard that came with a computer even if you no longer need it.

Another possibility is a component of the system isn't even letting you get to Safe Mode. Safe Mode is booting the system in a reduced mode of operation, but still requires certain components be available.  If some critical part of the system is damaged you won't even get to Safe Mode.

I got a black screen telling me I had to reboot in many languages, what was it? - http://www.dslreports.com/faq/4970  Also has detailed description of what happens during a KP.

Apple docs: What's a kernel panic? (Mac OS X) - http://docs.info.apple.com/article.html?artnum=106227

Mac OS X Kernel Panic FAQ - http://www.index-site.com/kernelpanic.html

Topic : kmosx: Kernel Panics? Don't panic too ! - http://discussions.apple.com/thread.jspa?threadID=121923

X-Lab: Resolving Kernel Panics - http://www.thexlab.com/faqs/kernelpanics.html

Tutorial: Avoiding and eliminating Kernel panics - http://www.macfixit.com/article.php?story=20060911080447777