I have a Mainstreet/Wallstreet I (233 L2 cachless) that is doing the same 
thing trying to boot from a CD, which use to work. The ofwboot.xcf is from 
the autobuild repository from November 2nd.

real-base = F00000
load-base = 600000
startup disk patches enabled

Open Firmware, 2.0.1
...
boot ide1/@0:0,OFWBOOT.XCF;1 loading XCOFF
tsize=BDB0 dsize=288 bsize=25C0 entry=640000
SECTIONS:
.text	 00640000 00640000 0000BDB0 00000100
.rodata. 0064BDAC 0064BDAC 00000A44 0000BEB0
.data	 0064D000 0064D000 00000288 0000C8F4
.bss	 0064D288 0064D288 000025C0 00000000
loading .text, done..
loading .data, done..
clearing .bss, done..
*hang*


nvramrc relevant portion:

$E
dev ide1
:open use-ata-interface 1 &c -1;
:set-device-ID set-drive-select ;
:reset-atapi-bus reset-ata-bus;


-- 

The nice thing about Windows is - It does not just crash, it displays a
dialog box and lets you press 'OK' first.
						-- Arno Schaefer