Can not successfully re-install MYSQL 10.8.2 Removed the old installation as explained here:

https://superuser.com/questions/129193/how-do-i-uninstall-mysql-on-mac-os-x-snow-leopard

Installed the package contained in the mysql 5.1.67 DMG downloaded from MySql.com
Installed the preference pane item
Installed the startup item [THIS FAILED]

MySql will not load, it's preference pane show the error message displayed below:

 The MySql database server installation was not found. 
 Please make sure the /usr/local/mysql/bin/mysqladmin file is present


I don't have much familiarity with unix commands so I'm not clear how to troubleshoot this further.
Try to uninstall the lates version completely and install the new one. According to your error log i think that you have another mysql server running on your machine. Try to find it out and uninstall it.