OS X V10.7 Lion :: Update 10.7.4 Has Triggered MBP Catastrophic Failure

2009 Macbook Pro 15.4" 4gb RAM (Unibody)HD 500.11 GB FUJITUS MJA2... I tried to install an update for 10.7.4 via the combo package. The update says it failed so I tried to install it again- every time I got to finalizing/moving things around stage of the update it would say that it failed. I believe it may have succeeded, at least partially. I went to restart my machine and now I am stuck at the Apple logo Grey screen. I have tried the following: Shift for safemode: it got me through to user login once, but then I hit  restart and reset the PRAM and after that no  more safe mode success.Safemode now fills up the progress bar to a certain point and then the bar just disappears and I'm left with the spinning gear of infinity. Verbose mode/single user mode: got me to a screen white text ending in: "mac framework successfully initialized using 16384 buffer headers and 10240 cluster I0 buffer headers"There is no input allowed.Target mode successfully gives me the target symbol, but I have not tried to access it as a drive.

I have managed to boot into CMD-R recovery mode and tried to repair my disk. Unfortunately it reads in red 'Error: Disk Utility can't repair this disk....disk, and restore your backed-up files.' Upon 'Verify Disk' it red errors out with: Invalid node structure. The volume Macintosh HD coudl not be verified completely. Error: This disk needs to be repaired. Click Repair Disk.

when I try to do other boot-key combos sometimes it will just turn on for a brief second and then turn back off again. I have never tinkered around inside my machine either.I don't have a current backup, I suppose that is what I will be doing now via target mode. I have also checked for the flashback virus a couple weeks ago and was in the clear.