(In reply to comment #5)
> Sounds like you may be waiting for the firmware loader to timeout.  Make
> sure you have the new cayman smc ucode installed:
> http://people.freedesktop.org/~agd5f/radeon_ucode/CAYMAN_smc.bin

Yes, it was missing. I'll test kernel 3.11-rc1 with it and with bug 66551's
patch.