I can verify this as well. I also have a Toshiba M115 although mine is the S1064. Something with this laptop does not play well with udev. I can't remember the specifics for each kernel, I attempted to install slackware 11 at least 8 times. With the default kernel it would freeze at something about cardmgr, with kernel 2.6.17 and .18 it would freeze at the cs: IO port probe 0x3e0-0x4ff. I had no card in the pcmcia slot on any of the installations. I ended up having to install with hotplug disabled and then it would finish booting. One other note, the 2.6 kernels would boot completely initially until I installed their respective header and module package, then it would freeze.
I have installed other distros with no issues, but one similarity with all of them is during the boot process I am giving errors that involve pci allocation region, there are four of them which may be playing a part in this. Could the original poster verify if he is also getting these pci region messages.