That's awesome. These new MMCPlus cards are much faster than I gave them credit for.

Any chance you could post your installation notes or outline a walkthrough?

I have the standard 2006 -49 image booting from MMC now, but wasn't able to replace the kernel. When you boot from MMC, does it fetch the (modified) kernel from there, or do you have to keep that in the internal flash?

A FIASCO image would be sweet, or even just a raw dump of your 1GB partition, compressed.. dd'ing it onto an MMC card would be easy.