Following the instructions here: https://help.ubuntu.com/12.04/serverguide/kernel-crash-dump.html
Seems to be correctly configured:
hybrid@node001:~$ sudo dmesg |grep -i crash
[ 0.000000] Command line: BOOT_IMAGE=/boot/vmlinuz-3.8.0-38-generic root=UUID=fa9a6a3c-a3fb-407c-8952-d4a5d642af84 ro crashkernel=384M-2G:64M,2G-:128M
[ 0.000000] Reserving 64MB of memory at 800MB for crashkernel (System RAM: 1023MB)
[ 0.000000] Kernel command line: BOOT_IMAGE=/boot/vmlinuz-3.8.0-38-generic root=UUID=fa9a6a3c-a3fb-407c-8952-d4a5d642af84 ro crashkernel=384M-2G:64M,2G-:128M