Hi Gerald,
Some more information that maybe help:
EHCI → HUB (powered) → HDD
With first test as post above also USB->Ethernet connected to HUB.
U-boot:
Texas Instruments X-Loader 1.4.2 (Feb 19 2009 - 12:01:24)
Reading boot sector
Loading u-boot.bin from mmc
U-Boot 2009.01-00013-g52eddcd (Feb 03 2009 - 22:22:56)
OMAP3530-GP rev 2, CPU-OPP2 L3-165MHz
OMAP3 Beagle board + LPDDR/NAND
DRAM: 256 MB
NAND: 256 MiB
In: serial
Out: serial
Err: serial
Board revision C
Serial #491c00030000000004013f8a17014005
Hit any key to stop autoboot: 0
reading uImage
2934668 bytes read
Booting kernel from Legacy Image at 80300000 …
Image Name: Angstrom/2.6.29/beagleboard
Image Type: ARM Linux Kernel Image (uncompressed)
Data Size: 2934604 Bytes = 2.8 MB
Load Address: 80008000
Entry Point: 80008000
Verifying Checksum …
Second test (w/o USB->Ethernet connected):
root@beagleboard:/sys/devices/system/cpu/cpu0/cpufreq# echo 500000 > scaling_max_freq
[ 129.536132] SR1: VDD autocomp is not active
root@beagleboard:/sys/devices/system/cpu/cpu0/cpufreq# echo 1 > /sys/power/sr_vdd2_autocomp
root@beagleboard:/sys/devices/system/cpu/cpu0/cpufreq# echo 1 > /sys/power/sr_vdd1_autocomp
root@beagleboard:/sys/devices/system/cpu/cpu0/cpufreq# echo 500000 > scaling_max_freq
root@beagleboard:/sys/devices/system/cpu/cpu0/cpufreq# cd /
root@beagleboard:/# dd if=/dev/sda1 of=/dev/null count=1000 ibs=1M
1000+0 records in
2048000+0 records out
1048576000 bytes (1.0 GB) copied, 52.9087 seconds, 19.8 MB/s
root@beagleboard:/# dd if=/dev/sda1 of=/dev/null count=1000 ibs=10M
[ 355.735931] hub 1-0:1.0: port 2 disabled by hub (EMI?), re-enabling…
[ 355.747070] usb 1-2: USB disconnect, address 2
[ 355.755859] usb 1-2.1: USB disconnect, address 3
[ 355.767730] sd 0:0:0:0: [sda] Unhandled error code
[ 355.776855] sd 0:0:0:0: [sda] Result: hostbyte=0x01 driverbyte=0x00
[ 355.787261] end_request: I/O error, dev sda, sector 4568031
[ 355.797027] Buffer I/O error on device sda1, logical block 570996
[ 355.807281] Buffer I/O error on device sda1, logical block 570997
[ 355.817382] Buffer I/O error on device sda1, logical block 570998
[ 355.827392] Buffer I/O error on device sda1, logical block 570999
[ 355.837341] Buffer I/O error on device sda1, logical block 571000
[ 355.847229] Buffer I/O error on device sda1, logical block 571001
[ 355.857086] Buffer I/O error on device sda1, logical block 571002
[ 355.866973] Buffer I/O error on device sda1, logical block 571003
[ 355.876678] Buffer I/O error on device sda1, logical block 571004
[ 355.886230] Buffer I/O error on device sda1, logical block 571005
[ 355.896331] sd 0:0:0:0: [sda] Unhandled error code
[ 355.904571] sd 0:0:0:0: [sda] Result: hostbyte=0x01 driverbyte=0x00
[ 355.914337] end_request: I/O error, dev sda, sector 4568271
dd: reading `/dev/sda1’: Input/output error
223+1 records in
4567968+0 records out
2338799616 bytes (2.3 GB) copied, 117.905 seconds, 19.8 MB/s
root@beagleboard:/#
So still no luck 
I’ll again go in “hope mode” till you guys come op with new things to test 
Wkr,
Joep
2009/8/22 Gerald Coley <gerald@beagleboard.org>