it seems i can suspend ok with latest kernel:
flag@omap:~$ uname -a
Linux omap 3.0.0-1203-omap4 #8 SMP PREEMPT Sun Aug 28 14:26:24 CEST 2011 armv7l armv7l armv7l GNU/Linux
flag@omap:~$ sudo pm-suspend
on the serial console:
omap login: [ 380.310028] init: anacron main process (654) killed by TERM signal
[ 381.834106] usb 1-1.2.1: unlink qh8-0e01/ea9b6140 start 6 [1/2 us]
[ 382.582183] PM: Syncing filesystems ... done.
[ 382.586547] PM: Preparing system for mem sleep
[ 382.596282] Freezing user space processes ... (elapsed 0.02 seconds) done.
[ 382.631072] Freezing remaining freezable tasks ... (elapsed 0.01 seconds) done.
[ 382.655731] PM: Entering mem sleep
[ 382.662078] Suspending console(s) (use no_console_suspend to debug)
but i cannot wake up the board anymore (the nic doesn't support WOL, usb mouse/keyb don't have any effect and using /sys/class/rtc/rtc0/wakealarm doesn't help either).