The network script tries to do a dhcp request before the pcmcia subsystem is configured. It fails after waiting for 5 sec or so, pcmcia is brought up, dhcp is done again and succeeds. Another problem is that routed is run before pcmcia is brought up, so once the network comes up, it complains about getting packets from unknown routers. If routed is run after the network is brought up, it knows what subnet it's on, and dowsn't complain about getting updates from subnet routers. To me, it looks like if pcmcia was brought up before networking, it would solve both problems (and other ones, like for instance ppp that dials automatically on a pcmcia modem when networking is brought up).
this should be fixed in 5.9; card services will be loaded as soon as any pcmcia modules are requested. You might try updating to the modutils in Starbuck/Rawhide (recompile the SRPMS, the binaries are based on glibc2.1), and adding the following line to your /etc/conf.modules: pre-install pcmcia_core /etc/rc.d/init.d/pcmcia start