After flashing everything from the 2007.11 release (new u-boot, kernel and rootfs), I'm seeing this behavior: if I just hold down the power button and let it boot, it sits with the initial logo screen indefinitely, and usbnet doesn't connect (so it's hard to tell how far it got). However if I hold down aux and turn it on, then select "boot" from the menu, it boots completely into X and everything seems to work.
I tried erasing rootfs and reflashing both the kernel and rootfs just to be sure. Checked the md5sums too.

