Hi Royce,
I have similar problem. The only difference is I can never get it boot up regardless the size of the cache (0K, 2K, and 8K). I only got the four lines printed in the console. My target board is V5LXT on ML505. It seems you can at least get yours booted under one condition. Do you mind passing your mhs file so I can compare how my hardware setup is different from yours?
Thanks,
Simon