Here's what we isolated it to.

The problem looks like this

inflate: decompressing
elf64: 00080000 - 0037701f (ffffffff.80326000) (ffffffff.80000000)
elf64: ffffffff.80080000 (80080000) 2957446t + 151450t
net: interface down

If we apply the patch that's attached we can boot all the way up, but we 
do get some errors. I'm hoping one of these errors might shed the light 
on what the actual issue is.

VFS: Mounted root (nfs filesystem) readonly.
Unhandled kernel unaligned access[#1]:
Cpu 0
$ 0   : 0000000000000000 ffffffff802adc60 0000000000000000 0000000000000000
$ 4   : ffffffff80089eec ffffffffde020000 ffffffff8008c588 0000000000000000
$ 8   : 0000000000561024 996bffffff40b050 0000000000000000 000000000000f6f8
$12   : ffffffff94004ce0 000000001000001e 0000000000000000 ffffffff80300000
$16   : 9800000000387df0 ffffffff80326000 0000000000000000 00067ffffff80326
$20   : 00067ffffff80326 000000000000002d fffffffffffffbff 67ffffff80353000
$24   : 0000000000000010 ffffffff801768d8
$28   : 9800000000384000 9800000000387dc0 67ffffff80326000 ffffffff80081e28
Hi    : 0000000000000000
Lo    : 0000000000000000
epc   : ffffffff80089f04 do_ade+0x3a4/0x4c0     Not tainted
ra    : ffffffff80081e28 ret_from_exception+0x0/0x1c
Status: 94004ce2    KX SX UX KERNEL EXL
Cause : 00808010
BadVA : 996bffffff40b057
PrId  : 000028a0
Process swapper (pid: 1, threadinfo=9800000000384000, task=9800000000381828)
Stack : 996bffffff40b050 ffffffff80326000 016bfffffe40b050 00067ffffff80326
        ffffffff80081e28 0000000000000000 0000000000000000 ffffffff94004ce0
        9800000001000000 019ffffffe00c980 ffffffff94004ce1 00067ffffff80353
        6800000000000000 9800000000381828 98000000013e9a40 98000000003b3000
        ffffffff80309758 000000000000f6f8 0000000000000001 ffffffff801b9388
        0000000000000000 ffffffff80300000 996bffffff40b050 ffffffff80326000
        016bfffffe40b050 00067ffffff80326 00067ffffff80326 000000000000002d
        fffffffffffffbff 67ffffff80353000 0000000000000010 ffffffff801768d8
        ffffffff800fb5ac ffffffff800fb5ac 9800000000384000 9800000000387f20
        67ffffff80326000 ffffffff8008c4d0 ffffffff94004ce2 0000000000000000
        ...
Call Trace:
[<ffffffff80089f04>] do_ade+0x3a4/0x4c0
[<ffffffff80081e28>] ret_from_exception+0x0/0x1c
[<ffffffff8008c588>] free_initmem+0xe8/0x218
[<ffffffff80080688>] init+0x248/0x510
[<ffffffff80084420>] kernel_thread_helper+0x10/0x18


Code: 00431024  5440ff77  de020100 <69230007> 6d230000  24020000  
1440ffba  00051402  08022760
Kernel panic - not syncing: Attempted to kill init!

patch - at http://ftp.jg555.com/revert.working.diff