[Xperia Arc Android Development] L3RAT:
Thx, I totally forgot that's code for removable devices too... Actually, it might be the part we are searching for, since that very code is responsible for debug messages in kmsg.log just before >120 sec freeze (in every boot besides the first one):

1st boot:

[ 13.227905] wilink_enable
[ 13.343750] (stk) :ldisc_install = 1
[ 14.343750] (stk) :ldisc installation timeout
[ 14.343963] (stk) :ldisc_install = 0
[ 15.343780] (stk) : timed out waiting for ldisc to be un-installed
[ 15.349365] wilink_disable
[ 15.349792] wilink_enable
[ 15.473815] (stk) :ldisc_install = 1
[ 16.473724] (stk) :ldisc installation timeout
[ 16.473968] (stk) :ldisc_install = 0
[ 17.473724] (stk) : timed out waiting for ldisc to be un-installed
[ 17.477569] wilink_disable
[ 17.477752] ti_st_open: st_register failed -22
[ 18.204406] fsck.f2fs: Info: sector size = 512
[ 18.204620] fsck.f2fs: Info: total sectors = 8388608 (in 512bytes)
[ 18.204742] fsck.f2fs:
[ 18.204925] fsck.f2fs: [FSCK] Unreachable nat entries [Ok..] [0x0]
[ 18.205047] fsck.f2fs: [FSCK] SIT valid block bitmap checking [Ok..]
[ 18.205230] fsck.f2fs: [FSCK] Hard link checking for regular file [Ok..] [0x0]
[ 18.205444] fsck.f2fs: [FSCK] valid_block_count matching with CP [Ok..] [0x6a011]
[ 18.205627] fsck.f2fs: [FSCK] valid_node_count matcing with CP (de lookup) [Ok..] [0x2765]
[ 18.205749] fsck.f2fs: [FSCK] valid_node_count matcing with CP (nat lookup) [Ok..] [0x2765]
[ 18.205932] fsck.f2fs: [FSCK] valid_inode_count matched with CP [Ok..] [0x2635]
[ 18.206146] fsck.f2fs: [FSCK] free segment_count matched with CP [Ok..] [0x497]
[ 18.206329] fsck.f2fs: [FSCK] next block offset is free [Ok..]
[ 18.206451] fsck.f2fs: [FSCK] other corrupted bugs [Ok..]
[ 18.206665] fsck.f2fs:
[ 18.206756] fsck.f2fs: Done.

2nd boot:

<6>[ 14.310729] wilink_enable
<6>[ 14.426574] (stk) :ldisc_install = 1
<3>[ 15.426574] (stk) :ldisc installation timeout
<6>[ 15.426788] (stk) :ldisc_install = 0
<3>[ 16.426574] (stk) : timed out waiting for ldisc to be un-installed
<6>[ 16.430389] wilink_disable
<6>[ 16.430755] wilink_enable
<6>[ 16.546600] (stk) :ldisc_install = 1
<3>[ 17.546600] (stk) :ldisc installation timeout
<6>[ 17.546813] (stk) :ldisc_install = 0
<3>[ 18.546600] (stk) : timed out waiting for ldisc to be un-installed
<6>[ 18.550415] wilink_disable
<3>[ 18.550628] ti_st_open: st_register failed -22
<6>[ 131.986053] bq27520 0-0055: bq27520_handle_soc_worker() capacity=68 (68) flags=0x139 ctrl_status=0x628d valid=1
<7>[ 147.628753] yaffs: yaffs_read_super: is_checkpointed 0
<7>[ 147.629333] SELinux: initialized (dev mtdblock0, type yaffs2), uses xattr
<6>[ 147.630004] fs_mgr: __mount(source=/dev/block/mtd/by-name/system,target=/system,type=yaffs2)=0
<6>[ 147.630401] yaffs: dev is 32505858 name is "mtdblock2" rw
<6>[ 147.630584] yaffs: passed flags ""
<7>[ 147.630706] yaffs: Attempting MTD mount of 31.2,"mtdblock2"
<7>[ 147.702453] yaffs: yaffs_read_super: is_checkpointed 0
<7>[ 147.702636] SELinux: initialized (dev mtdblock2, type yaffs2), uses xattr
<6>[ 147.702911] fs_mgr: __mount(source=/dev/block/mtd/by-name/cache,target=/cache,type=yaffs2)=0
<3>[ 147.867767] EXT4-fs (mmcblk0p2): VFS: Can't find ext4 filesystem
<6>[ 147.876983] fs_mgr: __mount(source=/dev/block/mmcblk0p2,target=/data,type=ext4)=-1
<6>[ 147.885375] fs_mgr: Running /system/bin/fsck.f2fs on /dev/block/mmcblk0p2
<6>[ 156.067291] fsck.f2fs: Info: sector size = 512
<6>[ 156.067535] fsck.f2fs: Info: total sectors = 8388608 (in 512bytes)
<6>[ 156.067657] fsck.f2fs:
<6>[ 156.067840] fsck.f2fs: [FSCK] Unreachable nat entries [Ok..] [0x0]
<6>[ 156.067962] fsck.f2fs: [FSCK] SIT valid block bitmap checking [Ok..]
<6>[ 156.068176] fsck.f2fs: [FSCK] Hard link checking for regular file [Ok..] [0x0]
<6>[ 156.068359] fsck.f2fs: [FSCK] valid_block_count matching with CP [Ok..] [0x69959]
<6>[ 156.068542] fsck.f2fs: [FSCK] valid_node_count matcing with CP (de lookup) [Ok..] [0x28e8]
<6>[ 156.068664] fsck.f2fs: [FSCK] valid_node_count matcing with CP (nat lookup) [Ok..] [0x28e8]
<6>[ 156.068878] fsck.f2fs: [FSCK] valid_inode_count matched with CP [Ok..] [0x27ba]
<6>[ 156.069061] fsck.f2fs: [FSCK] free segment_count matched with CP [Ok..] [0x47f]
<6>[ 156.069183] fsck.f2fs: [FSCK] next block offset is free [Ok..]
<6>[ 156.069305] fsck.f2fs: [FSCK] other corrupted bugs [Ok..]
<6>[ 156.069519] fsck.f2fs:
<6>[ 156.069610] fsck.f2fs: Done.

I found out, its a common error on PandaBoard and it leads to /ti_st/uim-sysfs/uim.c which might be getting wrong respond, but for me it seems to be the dead end, while I can not see anything wrong in the code...

But, I kept digging and found something interesting in /arch/arm/mach-msm/board-semc_mogami-bluetooth.c, particularly this part:

static void __exit mogami_bluedroid_exit(void)
{
// TODO
return;
}

[MENTION=3839575]mikeioannina[/MENTION], could that be it? :)