We should probably ask Pali or FMG to build a kernel-power with inline MMC and EXT4 modules. We won't be flashing it on NAND, but keeping it for u-boot to boot into. My efforts at making an initrd for Maemo aren't going anywhere.
BTW, making an image of both rootfs and home is nice, since you can simply use RescueOS to mount and replace all the files