...or better still, turn on logging from the options tab during/after connect.

It's probably not hanging, but doing an fsck. You should put your ear to the case and listen to hear if the disk twitches regularly, about every second or so. A full fsck on a 100M drive will take about 6 hours.

Have you manually partitioned the drive using Roger's instructions? If not, you are in for a disappointment.

A lot of this stuff is covered in the FAQ. Have you taken the time to read it?