[Touch CDMA Android Development] kallt_kaffe:
Still not a single freeze on application startup but got this after 15-20 minutes of GPS Test (this time running on battery)

[ 509.771113] ds2746: 3960mV -347mA charge: 90/100 (3903 units)
[ 509.771138] aux0: 301 (1723) aux1: 14 (60)
[ 509.850576] NMEA read. Size 256
[ 509.851688] NMEA read. Size 136
[ 509.851781] fix=-2145123292
[ 509.851820] speed=0 bearing=0
[ 510.030573] NMEA read. Size 256
[ 510.031635] NMEA read. Size 136
[ 510.031718] fix=-2145123292
[ 510.031755] speed=0 bearing=0
[ 510.100583] NMEA read. Size 256
[ 510.101788] NMEA read. Size 136
[ 510.101880] fix=-2145123292
[ 510.101917] speed=0 bearing=0
[ 510.250593] NMEA read. Size 256
[ 510.251738] NMEA read. Size 136
[ 510.251823] fix=-2145123292
[ 510.251863] speed=0 bearing=0
[ 510.330610] NMEA read. Size 180
[ 510.358184] NMEA read. Size 215
[ 510.358305] time=52325 hlat=1 llat=xx39947894 hlng=0 llng=xx72717020
[ 510.358364] date=21042010
[ 510.358407] fix=-2147220444
[ 510.358440] speed=0 bearing=0
[ 511.240600] NMEA read. Size 180
[ 511.250580] NMEA read. Size 215
[ 511.250699] time=52326 hlat=1 llat=xx39947897 hlng=0 llng=xx72717028
[ 511.250772] date=21042010
[ 511.250815] fix=-2147220444
[ 511.250849] speed=0 bearing=0
[ 512.130609] NMEA read. Size 180
[ 512.140600] NMEA read. Size 215
[ 512.140735] time=52327 hlat=1 llat=xx39947927 hlng=0 llng=xx72717003
[ 512.140812] date=21042010
[ 512.140857] fix=-2147220444
[ 512.140902] speed=0 bearing=0
[ 513.050610] NMEA read. Size 180
[ 513.060589] NMEA read. Size 215
[ 513.060759] time=52328 hlat=1 llat=xx39947914 hlng=0 llng=xx72717028
[ 513.060842] date=21042010
[ 513.060889] fix=-2147220444
[ 513.060920] speed=0 bearing=0
[ 513.920612] NMEA read. Size 180
[ 513.930664] NMEA read. Size 215
[ 513.930779] time=52329 hlat=1 llat=xx39947875 hlng=0 llng=xx72717020
[ 513.930854] date=21042010
[ 513.930899] fix=-2147220444
[ 513.930932] speed=0 bearing=0
[ 514.920647] NMEA read. Size 180
[ 514.930664] NMEA read. Size 215
[ 514.930834] time=52330 hlat=1 llat=xx39947902 hlng=0 llng=xx72716968
[ 514.930905] date=21042010
[ 514.930950] fix=-2147220444
[ 514.930984] speed=0 bearing=0
[ 515.371605] ds2746: 3947mV -450mA charge: 90/100 (3902 units)
[ 515.371632] aux0: 301 (1723) aux1: 13 (60)
[ 515.377972] Unable to handle kernel NULL pointer dereference at virtual address 00000ab4
[ 515.378042] pgd = c5038000
[ 515.378067] [00000ab4] *pgd=1503c031, *pte=00000000, *ppte=00000000
[ 515.378122] Internal error: Oops: 17 [#1] PREEMPT
[ 515.378147] Modules linked in: wlan
[ 515.378190] CPU: 0 Not tainted (2.6.25-01039-g5239796-dirty #23)
[ 515.378264] PC is at wakelocks_read_proc+0x88/0x130
[ 515.378299] LR is at number+0x14c/0x27c
[ 515.378330] pc : [<c014b484>] lr : [<c013a8a4>] psr: 80000093
[ 515.378347] sp : c0995e88 ip : 00000000 fp : c0995ebc
[ 515.378382] r10: 00000c00 r9 : c031923c r8 : a0000013
[ 515.378410] r7 : 00000ab4 r6 : c12a05d4 r5 : 00000000 r4 : c12a0000
[ 515.378442] r3 : c12a059c r2 : 3ed5fa63 r1 : 000000cd r0 : 00000038
[ 515.378477] Flags: Nzcv IRQs off FIQs on Mode SVC_32 ISA ARM Segment user
[ 515.378512] Control: 00c5387f Table: 15038000 DAC: 00000015
[ 515.378542] Process UEventObserver (pid: 1497, stack limit = 0xc0994260)
[ 515.378575] Stack: (0xc0995e88 to 0xc0996000)
[ 515.378597] 5e80: 00001000 c0995ee0 c0995f70 00000c00 00001000 c12a0000
[ 515.378677] 5ea0: c0995f70 00000000 43e7b140 00000000 c0995f14 c0995ec0 c00e9d10 c014b408
[ 515.378757] 5ec0: c0995ee4 00000000 c0995ef4 43e7b140 c642a2e0 00000000 c0994000 00000000
[ 515.378837] 5ee0: 00000000 00000000 c0995f64 c642a2e0 c00e9bb8 c53b8dc0 00001000 43e7b140
[ 515.378920] 5f00: c0994000 c0995f70 c0995f44 c0995f18 c00e54e4 c00e9bc4 c0995f70 00001000
[ 515.379002] 5f20: c53b8dc0 43e7b140 c0995f70 00000000 00000000 428f5d68 c0995f6c c0995f48
[ 515.379084] 5f40: c00aec64 c00e5440 c00af408 c00525b8 c53b8dc0 43e7b140 00001000 00000003
[ 515.379164] 5f60: c0995fa4 c0995f70 c00aedb8 c00aebbc 00000000 00000000 00000000 00000001
[ 515.379244] 5f80: 00000005 43e7b140 002b35b8 ad02f049 c0026b64 c0994000 00000000 c0995fa8
[ 515.379325] 5fa0: c00269e0 c00aed80 43e7b140 002b35b8 00000067 43e7b140 00001000 00000000
[ 515.379405] 5fc0: 43e7b140 002b35b8 ad02f049 00000003 46bb5d80 428f5d80 428f5d68 002b2bd0
[ 515.379489] 5fe0: ad23344c 46bb5d40 ad2147a1 afe0ca2c 00000010 00000067 9a2ac6c4 e91b4058
[ 515.379570] Backtrace:
[ 515.379597] [<c014b3fc>] (wakelocks_read_proc+0x0/0x130) from [<c00e9d10>] (proc_file_read+0x158/0x2d8)
[ 515.379702] [<c00e9bb8>] (proc_file_read+0x0/0x2d8) from [<c00e54e4>] (proc_reg_read+0xb0/0xc4)
[ 515.379777] [<c00e5434>] (proc_reg_read+0x0/0xc4) from [<c00aec64>] (vfs_read+0xb4/0x144)
[ 515.379862] [<c00aebb0>] (vfs_read+0x0/0x144) from [<c00aedb8>] (sys_read+0x44/0x70)
[ 515.379932] r7:00000003 r6:00001000 r5:43e7b140 r4:c53b8dc0
[ 515.379984] [<c00aed74>] (sys_read+0x0/0x70) from [<c00269e0>] (ret_fast_syscall+0x0/0x2c)
[ 515.380072] r9:c0994000 r8:c0026b64 r6:ad02f049 r5:002b35b8 r4:43e7b140
[ 515.380134] Code: ea000002 ebffffa7 e5977000 e0866000 (e5973000)
[ 515.380209] Kernel panic - not syncing: Fatal exception
[ 515.380245] Rebooting in 3 seconds..RTC Update

EDIT: I've currently disabled ALL printk lines in board-kaiser-gps.c and it has been running stable for about 2 hours with that kernel now. I'll continue the testing during the day.

EDIT2: Attached the no-printk version.