I booted with no_console_suspend and was able to collect the following output:
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Freezing user space processes ... (elapsed 0.00 seconds) done.
Freezing remaining freezable tasks ... (elapsed 0.00 seconds) done.
USB Host suspended
USB Host suspended
mmc0: card 8fe4 removed
I booted with no_console_suspend and was able to collect the following output: ------- ------- ------- ------- ------- ---
-------
Freezing user space processes ... (elapsed 0.00 seconds) done.
Freezing remaining freezable tasks ... (elapsed 0.00 seconds) done.
USB Host suspended
USB Host suspended
mmc0: card 8fe4 removed
<6>PWR key pressed ------- ------- ------- ------- ------- ---
-------
It seems that pressing the power button was detected, but nothing was done with it.