Driver 304.84 breaks TTY in Ubuntu 12.04.2 with xserver-xorg-lts-quantal

Experienced almost the same problem after installing Nvidia-current (304.84) on Ubuntu 12.10 32-bit. The 6 TTYs are no longer available.
They still worked correctly when using the previous Nvidia-current (304.64).

Forgot to mention: My Graphics Card: NVIDIA ION VGA bus-ID: 03:00.0, sitting in a square little Zotac box.

I am also facing similar issue on my Dell E6400 with "NVIDIA Quadro NVS 160M (rev a1)" card.
Driver installed from Ubuntu repo.

But, I don't even get the blinking cursor. Also, many times the gnome-terminal doesn't get refreshed properly when doing terminal scroll-up / pg-up / pg-dn / ctrl-pg-up / ctrl-pg-dn.

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My system details:-
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Laptop: Dell E6400
Graphics Card: NVIDIA Quadro NVS 160M (rev a1)
NVIDIA Driver version: 304.84

$ uname -a
Linux localhost 3.2.0-39-generic-pae #62-Ubuntu SMP Wed Feb 27 22:25:11 UTC 2013 i686 i686 i386 GNU/Linux

$ lsb_release -a
No LSB modules are available.
Distributor ID: Ubuntu
Description: Ubuntu 12.04.2 LTS
Release: 12.04
Codename: precise

$ lspci -v | grep nvidia -i
01:00.0 VGA compatible controller: NVIDIA Corporation G98M [Quadro NVS 160M] (rev a1) (prog-if 00 [VGA controller])
 Kernel driver in use: nvidia
 Kernel modules: nvidia_current_updates, nvidia_current, nouveau, nvidiafb

$ aptitude search nvidia
p boinc-nvidia-cuda - metapackage for CUDA-savvy BOINC client and manager
p libkwinactivenvidiahack4 - library used by nvidia cards for the KDE window manager
p libkwinnvidiahack4 - library used by nvidia cards for the KDE window manager
p nvidia-173 - NVIDIA binary Xorg driver, kernel module and VDPAU library
p nvidia-173-dev - NVIDIA binary Xorg driver development files
p nvidia-173-updates - NVIDIA binary Xorg driver, kernel module and VDPAU library
p nvidia-173-updates-dev - NVIDIA binary Xorg driver development files
p nvidia-96 - NVIDIA binary Xorg driver, kernel module and VDPAU library
p nvidia-96-dev - NVIDIA binary Xorg driver development files
p nvidia-96-updates - NVIDIA binary Xorg driver, kernel module and VDPAU library
p nvidia-96-updates-dev - NVIDIA binary Xorg driver development files
p nvidia-cg-toolkit - Cg Toolkit - GPU Shader Authoring Language
i nvidia-common - Find obsolete NVIDIA drivers ...

I'm using the 304.88 driver, also blank tty's