When i rebooted, i reinstalled NVidia driver (285.05.09), VirtualBox, and also re-probing my sound card. One thing that confused me was that i had no sound after i logged in to my KDE. After searching a bit, it seems that the new kernel modified my sound level, so i have to re-adjust it again with alsamixer and set the Headphone to have bigger number and we're back in business.
Last configuration i had to take is to find a patch for my new VMWare Workstation 8 which is not yet fully compatible with Linux Kernel 3.1. Some of the modules are buildable, but not all of them. I quickly browsed and found a working patch, thanks to ArchLinux communities who had updated their Wiki to include a patch for Linux Kernel 3.1rc (it's working fine in the final release as well).
Here's the step by step
cd /tmpIt's now working flawlessly with the new shinny Linux Kernel 3.1
chmod +x vmware3.1rc.sh
./vmware3.1rc.sh (as root)