@Titan: The reboot loop may be related to USB/IP since the only difference in my script is that I also modprobe vhci-hcd.
When I was checking why my settings weren't applied, I commented out the whole /etc/event.d/kernel-maemo file except 'modprobe bq27x00_battery' and 'modprobe vhci-hcd' and felt into the reboot loop. (Since there were no more reboot loop protection).

Just to let you know.

EDIT:
BTW, I think you should store the settings in /etc/default/kernel-maemo instead of /etc/default/kernel