Yeah, I ain't poking a paperclip into my microphone! Not that I really need help with resetting....

Update:
- I've tried it with USB hub plugged in, same behavior.
- If you plug in the power supply, it just goes through a shorter reset cycle. BTW: the battery is fully charged, so it's not a dead battery.
- I've used flasher to put it back into production/USB client mode. Still resets as before.
- I tried installing the memory plugin, but can't get it to install before the next reset.

Yup, looks like I'm gonna have to re-flash it. I was just hoping someone had an alternate solution. Maybe I'll run this by the Maemo dev site list.

A lesson for all of us: regularly back up your config to your MMC!