I finally found my problems with no init found.
It was caused by the CONFIG_SECURITY_ROOTPLUG option.
I wonder why this option in 184.108.40.206 kernel allows the kernel boot up, while
with 2.6.27-rc7, the kernel is unable to run even init.
Hmm, is there a difference in the device drivers such that root_plug simply
isn't able to find the usb 'key' in 2.6.27-rc7?
When you boot with CONFIG_SECURITY_ROOTPLUG=n, can you read the usb key?
If you enable that option, you have to have the specific USB device
plugged into your system in order for any process to run as root (like
So, odds are you don't have this specific device, so either specify a
different device id, or don't build it into your kernel :)