You don't say which version of debian you are attempting to install,
but I noticed a problem installing slink/2.0.36 on a thinkpad i 1472,
where it would appear to hang at exactly the same place. By
inserting/ejecting the pcmcia card (either one), it would continue,
and I was able to install base2.1.tgz via nfs over the ethernet card.
I also found that I had to configure the pcmcia _before_ the network
config. Once the system is up and running, a newer version of
pcmcia-cs and newer kernel fixes things.
-Jim Jensen email@example.com