Yes the p500 nightlies no longer work for p505 or p506. P505 doesn't get signal and P506 gets worse graphics glitch than the old color banding problem. The only solution is to find exactly which date it stopped working and use the build before that, or just use the stable 7.2.0 version that was released months ago. http://get.cm/get/2Kz
I think this needs a bump for people still trying the old mmatt and kang roms.
Updated first post to have simple cm9 installation instructions and links.
Thanks for updating! I'm currently running Gingerbread installed with instructions from this thread on my Phoenix P505. I tried ICS successfully but it felt a bit slow when compared to GB and I missed the FM radio support. My current preference is to run the stable 'cm-7.2.0-p500.zip' as per the instructions, although I may change it again later!
I'm not clear what 'lgp505icskernel-19062012.zip' does beyond using Joban's 2.08?