installing with jockey results in broken X

On a clean install of lucid (on amd64), installing binary nvidia driver results in a misconfigured X, which can't start. I.e. installing the binary drivers by the recommended gui manner (via the 'Hardware drivers' wizard) results in an X that has to fall back to failsafe settings.

 At the end of X's log I fond:
===================
(**) Nov 18 02:48:59 NVIDIA(0): Enabling RENDER acceleration
(II) Nov 18 02:48:59 NVIDIA(0): Support for GLX with the Damage and Composite X extensions is
(II) Nov 18 02:48:59 NVIDIA(0): enabled.
(EE) Nov 18 02:48:59 NVIDIA(0): Failed to initialize the NVIDIA kernel module. Please see the
(EE) Nov 18 02:48:59 NVIDIA(0): system's kernel log for additional error messages and
(EE) Nov 18 02:48:59 NVIDIA(0): consult the NVIDIA README for details.
(EE) NVIDIA(0): *** Aborting ***
(II) UnloadModule: "nvidia"
(II) UnloadModule: "wfb"
(II) UnloadModule: "fb"
(EE) Screen(s) found, but none have a usable configuration.

Fatal server error:
no screens found

Please consult the The X.Org Foundation support
         at http://wiki.x.org
 for help.
Please also check the log file at "/var/log/Xorg.3.log" for additional information.

 ddxSigGiveUp: Closing log
==================

The 'Hardware drivers' wizard didn't show any errors when installing the drivers. I will attach jockey's logs

Note that trying to load 'nvidia' kernel module doesn't work, but loading 'nvidia-current' kernel module does, and that after loading it, it shows up as 'nvidia' in the output of 'lsmod':
====================
root@ponty:/var/log# modprobe nvidia
FATAL: Module nvidia not found.
root@ponty:/var/log# modprobe nvidia-current
root@ponty:/var/log# lsmod | grep nvidia
nvidia 8096262 0
root@ponty:/var/log#
====================