I uninstalled MAMP completely, downloaded fresh copy of MAMP 2 from the MAMP website, did a clean install. However, when I try to start mysql, I get the following error log

111120 21:37:49 mysqld_safe Starting mysqld daemon with databases from 

/Applications/MAMP/db/mysql
111120 21:37:50 [Warning] You have forced lower_case_table_names to 0 through a command-line option, even though your file system '/Applications/MAMP/db/mysql/' is case insensitive.  This means that you can corrupt a MyISAM table by accessing it with different cases. You should consider changing lower_case_table_names to 1 or 2
111120 21:37:50 [Note] Plugin 'FEDERATED' is disabled.
111120 21:37:50 InnoDB: The InnoDB memory heap is disabled
111120 21:37:50 InnoDB: Mutexes and rw_locks use GCC atomic builtins
111120 21:37:50 InnoDB: Compressed tables use zlib 1.2.3
111120 21:37:50 InnoDB: Initializing buffer pool, size = 128.0M
111120 21:37:50 InnoDB: Completed initialization of buffer pool
111120 21:37:50 InnoDB: highest supported file format is Barracuda.
111120 21:37:50  InnoDB: Waiting for the background threads to start
111120 21:37:51 InnoDB: 1.1.5 started; log sequence number 1595675
111120 21:37:51 [ERROR] /Applications/MAMP/Library/bin/mysqld: unknown option '--skip-locking'
111120 21:37:51 [ERROR] Aborting

111120 21:37:51  InnoDB: Starting shutdown...
111120 21:37:51  InnoDB: Shutdown completed; log sequence number 1595675
111120 21:37:51 [Note] /Applications/MAMP/Library/bin/mysqld: Shutdown complete

111120 21:37:51 mysqld_safe mysqld from pid file /Applications/MAMP/tmp/mysql/mysql.pid ended

I've no clue why this is happening. I googled around and made sure that no instance of MySQL is running. Nothing seems to help.