Are you running Hijack? I have had similar problems with hijack in place. Try installing the default kernel (from the hijack sourceforge site) and see if you have the same problem.

Rrrreaaaaallly.... I never heard of Hijack causing sync issues... Wow. Wonder what that's all about... And why that would cause the player app (rather than the kernel) to seg fault?

I will try it without Hijack and with stock init tonight and report progress.. But I would be a little sad if using Hijack and having error-free syncs were mutually exclusive.