I wrote up a basic guide on how to compile Bitcoin on Ubuntu. I hope it proves useful to anyone still having issues compiling the graphical client.
http://lickthesalt.com/2010/08/19/compiling-bitcoin-on-ubuntu-10-04-karmic/
Thread #0197
HOWTO: Compiling Bitcoin on Ubuntu 10.04 (Karmic)
An excellent guide. Thank you so much for your efforts - it will certainly help me 
That's a really well written walkthough. Someone should confirm if they followed it and didn't run into any snags.