I'm afraid I've never seen that error message before. However, I Googled it and came up with a number of pages with the phrase "**** does not seem to be present, delaying initialization." If you are getting a similar message, I would suggest that your machine is having trouble finding one of the two NICs.
If you are having an IRQ sharing problem, that could be preventing one of the NICs from talking. Otherwise, you might need to ensure that you have the proper drivers loaded for eth1. As for the sharing problem, I wouldn't have the faintest how to resolve that...
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