Acer Aspire 721 fails to resume after hibernate/suspend

[young_simba]

Waking up from suspend takes more than 300 seconds with following error - ACPI Exception: AE_TIME.
I'am running release candidate of Ubuntu 10.10 64bit. I've tried to install proprietary driver for ati videocard, turning visual effects on/off, unplugging USB perephery, disabling WIFI with the same result.
Aside from suspend hibernate also does not work as intended, upon hibernation screen darkens, suspend LED starts blinking, but screen backlight and fan continue to work for 300 seconds, however system does enter hibernate state. Upon waking from hibernate system waiting about 300 seconds with the same error before resuming.
I think it could be the same bug as #637712 and it could be because ACPI bug in bios V1.14 08/09/2010 which is not corrected by manufacturer at the time being.

ProblemType: Bug
DistroRelease: Ubuntu 10.10
Package: linux-image-2.6.35-22-generic 2.6.35-22.33
Regression: No
Reproducible: Yes
ProcVersionSignature: Ubuntu 2.6.35-22.33-generic 2.6.35.4
Uname: Linux 2.6.35-22-generic x86_64
AlsaVersion: Advanced Linux Sound Architecture Driver Version 1.0.23.
Architecture: amd64
AudioDevicesInUse:
 USER PID ACCESS COMMAND
 /dev/snd/controlC2: simba 1990 F.... pulseaudio
 /dev/snd/pcmC2D3p: simba 1990 F...m pulseaudio
 /dev/snd/controlC0: simba 1990 F.... pulseaudio
 /dev/snd/controlC1: simba 1990 F.... pulseaudio
Card0.Amixer.info:
 Card hw:0 'SB'/'HDA ATI SB at 0xd0400000 irq 16'
   Mixer name : 'Realtek ALC271X'
   Components : 'HDA:10ec0269,10250429,00100100'
   Controls : 18
   Simple ctrls : 10
Card1.Amixer.info:
 Card hw:1 'External'/'Creative Technology SB Live! 24-bit External at usb-0000:00:13.2-1.4, full spee'
   Mixer name : 'USB Mixer'
   Components : 'USB041e:3040'
   Controls : 5
   Simple ctrls : 4
Card2.Amixer.info:
 Card hw:2 'HDMI'/'HDA ATI HDMI at 0xd0110000 irq 19'
   Mixer name : 'ATI RS690/780 HDMI'
   Components : 'HDA:1002791a,00791a00,00100000'
   Controls : 4
   Simple ctrls : 1
Card2.Amixer.values:
 Simple mixer control 'IEC958',0
   Capabilities: pswitch pswitch-joined penum
   Playback channels: Mono
   Mono: Playback [on]
Date: Fri Oct 8 02:08:01 2010
EcryptfsInUse: Yes
HibernationDevice: RESUME=UUID=15b52fad-746a-4120-a022-3e913a542de2
InstallationMedia: Ubuntu 10.10 "Maverick Meerkat" - Release Candidate amd64 (20101004.1)
MachineType: Acer Aspire One 721
ProcCmdLine: BOOT_IMAGE=/boot/vmlinuz-2.6.35-22-generic root=UUID=1e5dfa6d-21ea-4bfb-97d7-788af0ba9ab9 ro quiet splash
ProcEnviron:
 PATH=(custom, user)
 LANG=ru_RU.utf8
 SHELL=/bin/bash
RelatedPackageVersions: linux-firmware 1.38
SourcePackage: linux
WifiSyslog:

dmi.bios.date: 08/09/2010
dmi.bios.vendor: Phoenix Technologies LTD
dmi.bios.version: V1.14
dmi.board.asset.tag: No Asset Tag
dmi.board.name: Aspire One 721
dmi.board.vendor: Acer
dmi.board.version: V1.14
dmi.chassis.asset.tag: No Asset Tag
dmi.chassis.type: 10
dmi.chassis.vendor: Acer
dmi.chassis.version: V1.14
dmi.modalias: dmi:bvnPhoenixTechnologiesLTD:bvrV1.14:bd08/09/2010:svnAcer:pnAspireOne721:pvrV1.14:rvnAcer:rnAspireOne721:rvrV1.14:cvnAcer:ct10:cvrV1.14:
dmi.product.name: Aspire One 721
dmi.product.version: V1.14
dmi.sys.vendor: Acer

[young_simba (simba-neuroscience)]

The notebook actually comes to live after suspend, but waking up starts after approximately 300 seconds of inactivity. I've attached dmesg output. System suspended (at 152), I've immediately pushed button to wake it up, but it takes about 300 seconds (at 452) to do so. Wireless network was down after waking up, but it was possible to manually activate it by pressing Fn+F3 and restarting NetworkManager.

Suspicious lines in dmesg output at the waking up time:
[ 452.649042] ACPI Exception: AE_TIME, Returned by Handler for [EmbeddedControl] (20100428/evregion-474)
[ 452.649053] ACPI Error (psparse-0537): Method parse/execution failed [\_SB_.LID0._PSW] (Node ffff88006db345e0), AE_TIME
[ 452.649098] ACPI: _PSW execution failed