I'm not sure (errors seem to be able to pop up from all sorts of weird places), but it sounds like you're trying to boot off the non-customized zImage. That's usually what causes a hang at mmcblk0: p1. (the little <p5> after makes me think it might be something different, though.)
First get the 11-22 package from Connect-UTB. Dump the files to the root of the sd card. Delete startup.txt, any zImages, and rootfs.img. Move raph800.txt from 'startup-configs' to the root of the sd card, and rename it to startup.txt.
Get the customized files from
this post. Put the zImage-2009-12-08-cdma-data on your sd card and rename it to just zImage. Put the other two files from the zip on your sd card as well. If it doesn't get past mmcblk0: p1 then... well, it's something else.