I have just created this account to offer a solution (Not THE solution, mind you) if all you can go to is blue screen. About two weeks ago my friend's mother gave me her computer and asked me to find out what's wrong with it.
Through trial and error and after reading countless of comments, articles and whatnot, I have found a somewhat reliable solution.
First of all, you want to force your computer to start up using the HD 3000 graphics. How do you achieve that? Well, thanks to a rather unusual method that I got from a website http://www.asyncro.com/, you can really force your computer into starting up using the HD 3000 graphics card. To save you the trouble, here's a brief guide
recommended: Charge the computer beforehand.
1. Turn on your computer like you normally would with the Magsafe plugged in
2. Now it should get to a point where the blue screen appears. That's exactly what you want
3. Now REMOVE the magsafe from the computer and put it on a surface that will prevent the computer from cooling properly. In other words: You want to OVERHEAT the computer (Yeah this sounds crazy) and make it SHUT DOWN automatically thanks to the sensors. Just put it on a blanket and kind of wrap the computer in it. Even close the lid a bit. This will help the process. This step is the most crucial. After this happens quickly go to step 4.
4. AS SOON AS your computer shuts itself down, turn it back on immediately. It should boot using the HD3000 graphics, since the system will consider the other problematic GPU card "unusable" because it's still overheated
5. Log into your system...hopefully
6. Install GFXcardstatus 2.2.1. Do not download the 2.3 version. Search for the version 2.2.1 somewhere
7. In GFXcardstatus menubar icon, set it to "Integrated only". In this program preferences, check the "Load at startup" and uncheck the "Check for updates automatically". Then go to "advanced" tab in the preferences and check the "enable power based switching" and set it both to "Integrated". Just to make sure
NOW, you should have a working Macbook pro, however you will be unable to use the stronger AMD forces the stronger GPU automatically no matter what. I cannot confirm this though. I recommend installing Mountain Lion on your computer, since that's what I did. To do that, simply make a bootable disk (Can't really tell you how since I don't think it's kinda allowed) and follow on from step 4. But instead you will hold ALT at the second startup and install Mountain Lion from there. Don't forget to install GFXcardstatus again
This method worked for me, albeit it is a band-aid solution. It still needs to be repaired, because now it's like a Boxer with his hands tied, and if you untie then, he knocks himself out...
I hope this guide helps. I will probably repost this as time goes so it (hopefully) helps more and more people.