I am having same issue, I revert back to previous version of bios and all working fine... no loops
There have been various RAID-related reports on BIOS 5506 and also the previous BIOS 5456. These aren't the same problem described here. But since they fall under the category of RAID issues, I'll post the link. After bumping into one of these problems, I dropped back to BIOS 5417 (7/27/10).