upgrade busybox 1.0.0 => busybox 1.1.3 : init hang

[Jean-Philippe Francois]

Hi,
I downloaded and compiled busybox1.1.3 today, and now
my init hangs.
Here is the setup :
ARM (ep9307) processor
Init : cramfs initrd with linuxrc linked to /bin/busybox
toolchain :gcc-3.4.5 with 2.2.5 libc (softfloat) built using crosstool
0.42

I use an /etc/inittab file

Init stops just after printing :
BusyBox v1.1.3 (2006.06.23-12:14+0000) multi-ca

The board is still up, since I still have printk message, when for
example I insert an USB key.
The new busybox also works well if I download it on the board after
init runs. 
The question is, how should I debug this ? Adding logs everywhere ?

Thank you,
JP Francois