I’m not sure if it’s related but I have a similar issue on a box that has more that 1 network card. The initial boot sequence will use the main ethernet port, then the latter portion of the boot sequence wants to use the second port.

In my case what happens is that ethernet port #1 will properly load the bzImage and init_32.xz. After that the s40network script brings up eth0 but now eth0 points to the second network port.

I’m using the SVN version from yesterday, BTW.