I'm starting this thread because I want to see how people are doing their /sbin/init scripts. Mine is nothing special, but here it is:
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#!/bin/sh

PATH=.:/usr/local/bin:/usr/bin:/bin:/usr/local/sbin:/usr/sbin:/sbin:/empeg/bin
PS1=empeg:\\w\\$
/bin/mount -n -o nocheck,rw /proc
/bin/mount -n -o nocheck,ro /dev/hda4 /drive0
/empeg/bin/player
while (/bin/tetris | grep -v '0 lines'); do; done
exec /sbin/init.orig
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This lets me start the player on power-up and quit to tetris using the menu. Then I can play as many tetris games as I want. When I am done, end a game without getting any lines and you are back in the player. If I quit again, I get a bash prompt on the serial port.