hmm.. this is a known bug.. in the kernel 2.6 arch.. Due to asrock 's patented AGI technology, you get this hotplug error with ubuntu, suse etc., and fedora udev will cause kernel panic.
A neat work around for this problem is

either quickly press [ctrl]+C when it says
starting hotplug subsystem.. [ok]
but u'll need to be quick at that. Now when you boot into the system execute.
Code:
$ sudo mv /etc/init.d/hotplug.sh /etc/init.d/hotplug_null.sh
(press tab to autocomplete). I know this is a cheap way, but it's also simple

now hotplug wont start and probably u'r sound card wont get detected though

you can however compile and install a 2.4 series kernel and continue using hotplug normally.. which i think works. (just a guess)