nvidia-173-updates 173.14.30-0ubuntu5: nvidia-173-updates kernel module failed to build

This is on Precise A1 32bit, fully updated. When trying to install the nvidia-173-updates driver the process fails with

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First Installation: checking all kernels...
Building only for 3.2.0-2-generic
Building for architecture i686
Building initial module for 3.2.0-2-generic
Error! Bad return status for module build on kernel: 3.2.0-2-generic (i686)
Consult /var/lib/dkms/nvidia-173-updates/173.14.30/build/make.log for more information.
Setting up nvidia-settings-updates (285.05.09-0ubuntu1) ...
update-alternatives: using /usr/lib/nvidia-settings-updates/ld.so.conf to provide /etc/ld.so.conf.d/nvidia_settings.conf (nvidia_settings_conf) in auto mode.
Processing triggers for bamfdaemon ...
Rebuilding /usr/share/applications/bamf.index...

2011-12-30 09:24:00,950 WARNING: modinfo for module nvidia_173_updates failed: ERROR: modinfo: could not find module nvidia_173_updates

2011-12-30 09:24:00,951 ERROR: XorgDriverHandler.enable(): package or module not installed, aborting

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A look at the make log file shows the following:

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DKMS make.log for nvidia-173-updates-173.14.30 for kernel 3.2.0-2-generic (i686)
Fri Dec 30 09:23:49 EST 2011
If you are using a Linux 2.4 kernel, please make sure
you either have configured kernel sources matching your
kernel or the correct set of kernel headers installed
on your system.

If you are using a Linux 2.6 kernel, please make sure
you have configured kernel sources matching your kernel
installed on your system. If you specified a separate
output directory using either the "KBUILD_OUTPUT" or
the "O" KBUILD parameter, make sure to specify this
directory with the SYSOUT environment variable or with
the equivalent nvidia-installer command line option.

Depending on where and how the kernel sources (or the
kernel headers) were installed, you may need to specify
their location with the SYSSRC environment variable or
the equivalent nvidia-installer command line option.

*** Unable to determine the target kernel version. ***

make: *** [select_makefile] Error 1
(END)

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ProblemType: Package
DistroRelease: Ubuntu 12.04
Package: nvidia-173-updates 173.14.30-0ubuntu5
ProcVersionSignature: Ubuntu 3.2.0-2.5-generic 3.2.0-rc3
Uname: Linux 3.2.0-2-generic i686
NonfreeKernelModules: nvidia
ApportVersion: 1.90-0ubuntu1
Architecture: i386
DKMSKernelVersion: 3.2.0-2-generic
Date: Fri Dec 30 09:23:58 2011
InstallationMedia: Ubuntu 12.04 LTS "Precise Pangolin" - Alpha i386 (20111129.1)
PackageVersion: 173.14.30-0ubuntu5
SourcePackage: nvidia-graphics-drivers-173-updates
Title: nvidia-173-updates 173.14.30-0ubuntu5: nvidia-173-updates kernel module failed to build
UpgradeStatus: No upgrade log present (probably fresh install)