If the PCMCIA init script hangs, then the network card is irrelevant. Your bug report doesn't include much information that would help in diagnosing your problem; some questions would include, what system log messages do you get from the PCMCIA drivers? And what version of the PCMCIA drivers are you using? And does the system still hang if you boot with the card not inserted?
The PCMCIA-HOWTO has a long chapter about diagnosing startup problems like this. That may also give you some good clues.