Darwin Kernel Version 10.8.0 Problem

So i recently bought a MacBook Pro 17'' that is just a complete wreck. It belonged to a poker playing friend of mine who dropped it multiple times until it eventually stopped starting up past an error screen. I decided it was worth the risk of $100 to try to fix it so I'm trying to get it to work while putting in the least amount of money in it as possible. I've googled a bit and I've run a extensive hardware test on it and it came up clean. I've also learned that it has a kernel error when I start it up. I've tried booting it up using a mac os x snow leopard cd that I bought, but it has never gotten past the apple icon screen when I tried that. Im not even sure if thats the correct cd.

Here's a pic of the error:

http://i710.photobucket.com/albums/ww101...

any help would be much appreciated!