derek...

1. start your IT
2. launch xterm
3. log in as root
4. execute:

echo host > /sys/devices/platform/musb_hdrc/mode

5. attach your usb cable
6. plug in your usb device

- i have successfully attached:

various USB thumbdrives (using a female<->female adapter)
a Maxtor One-Touch 120GB USB hard drive (via powered mini-hub)
Sony Cyber-shot® DSC-S700 digital camera
Cowan iAudio G3 mp3 player

- and using 'normal' mode (i.e., Otg mode):

no-name USB RS232 adapter (using usb-serial kernel modules)

- btw, after you're done with host mode, don't forget to execute (as root):

echo otg > /sys/devices/platform/musb_hdrc/mode


have a happy and happy hacking!