I just tried the latest Lucid image (http://elinux.org/BeagleBoardUbuntu#Demo_Image)
I followed the directions on that page exactly (cut & paste)
It hangs, presumably because the wrong X-Loader was used. This is
all I get:
Texas Instruments X-Loader 1.4.2 (Feb 19 2009 - 12:01:24)
Reading boot sector
Loading u-boot.bin from mmc
U-Boot 2010.03-rc1 (Apr 14 2010 - 12:05:52)
OMAP3530-GP ES3.0, CPU-OPP2, L3-165MHz, Max clock-600Mhz
OMAP3 Beagle board + LPDDR/NAND
I2C: ready