Ok, I've checked out a current tree and applied some of the 2.0 patches 
(some were unnecesary as some bugs were fixed in earlier firmware 
upgrades). I'll build userland and try to mount root via NFS when I get 
the new firmware.

total memory = 256 MB
avail memory = 234 MB
bootpath /ethernet/port1@0,0
cbootpath /ethernet
mainbus0 (root): bplan,Pegasos2
cpu0 at mainbus0 (PowerPC,750CXE): 750 (Revision 3.1), ID 0 (primary)
cpu0: HID0 8090c0ac<EMCP,DOZE,DPM,ICE,DCE,SGE,BTIC,ABE,BHT>
cpu0: 56.26 MHz L2 cache present but not enabled
rtas at mainbus0 not configured
failsafe at mainbus0 not configured
ofbus0 at mainbus0 (ethernet)
ofnet0 at ofbus0 (port1): address 00:0b:2f:66:ca:af
ofbus1 at mainbus0 (pci@80000000)
host@0 at ofbus1 not configured
firewire@1 at ofbus1 not configured
ofbus2 at ofbus1 (isa@C)
serial@i2F8 at ofbus2 not configured
8042@i60 at ofbus2 not configured
keyboard@i60 at ofbus2 not configured
ofrtc0 at ofbus2 (rtc@i70): rtc
timer@i40 at ofbus2 not configured
fdc@i3F0 at ofbus2 not configured
lpt@i3BC at ofbus2 not configured
ide@C,1 at ofbus1 not configured
usb@C,2 at ofbus1 not configured
usb@C,3 at ofbus1 not configured
other@C,4 at ofbus1 not configured
sound@C,5 at ofbus1 not configured
pci1106,3068@C,6 at ofbus1 not configured
ofnet1 at ofbus1 (ethernet@D): address 00:0b:2f:47:e2:e9
ofbus3 at mainbus0 (pci@C0000000)
host@0 at ofbus3 not configured
display@8 at ofbus3 not configured
bootconsole at mainbus0 not configured
boot device: <unknown>
root device: