>> The soekris's timer is running at a different clock than usual. Make
>> sure you have
>> # AMD Elan SC520's timer runs at a different frequency
>> options         TIMER_FREQ=1189200
>
>but I don't see such an option in 3.1.  

That option is still available, and still fixes the problem.  Just
add that line into your kernel config and rebuild your kernel.  I
believe that this option is not properly dependency-tracked, so you
should do a "make clean" before rebuilding the kernel.

--Ken