I had the same problem on my cloned install. I found out that S45maemo-launcher from /etc/rc2.d was missing. I booted to flash, mounted /dev/mmcblk0p2 and copied over the file from my working flash install.

This let me boot into the device all the way, but my wireless still does not work. When I try and restart networking I get GLIB errors saying "MC not running".

I think the update tried to replace some scripts in rc2.d, but they got borked in the process.