just FYI, software update worked flawlessly for me

only mentioning this since, going back through the mailing list
archives, a number of people complained that something went wrong with
their software update process.

  for me, donwloaded BBB-eMMC-flasher-2013.05.06.img.xz, uncompressed,
"dd"ed to uSD card and simply followed instructions here:

http://circuitco.com/support/index.php?title=Updating_The_Software

after more than 1/2 hour, all LEDs came on solid, i pulled the power
plug, popped out the SD card and powered up again, to a new system
with:

# uname -a
Linux beaglebone 3.8.11 #1 SMP Mon May 6 20:21:42 CEST 2013 armv7l GNU/Linux

The procedure is not the issue. The flasher has bad DDR timings in it.Sometimes a board works. Sometimes not.

That is fixed in the next release coming soon, I hope.

Gerald