I found two confirmed hardware bugs with the generic-pc-1.11 image.

The first was on a Dell Dimension Pentium II CPU. I had a large
collection of old IDE disks and I wrote the image to three of them. All
three had the exact same results. Rebooting would end in a black screen
with nothing but the words "read error". I found more references to this
issue on this list, archived here:
http://m0n0.ch/wall/list/query.php?query=read+error
+boot&type=all&Submit=Search

The second issue is with another Intel motherboard + Pentium II CPU.
This time there was a kernel panic after successfully booting from the
hard disk. The error was referencing the interrupt of the network
interface. I fixed this by setting "plug and play OS" to no in the BIOS.
This is also documented here:
http://m0n0.ch/wall/list/?action=show_msg&actionargs[]=107&actionargs[]=02

And finally, after resolving these problems, I have a functioning
m0n0wall gateway and I can say I love it! Getting PPTP VPN conectivity
from a Windows laptop was simple and trafic shaping even more so. The
realtime SVG traffic graph is a nice touch. Thanks for all the hard
work. I'm looking forward to using m0n0wall for work and play.

-lee