First of all, message "hub.c: connect-debounce failed, port 1 disabled" has 
nothing
with normal functionality. It is an issue in obsolete kernel 2.4.20

Unfortunately, I can't reproduce bug on WL500gPV1 with my devices (Cowon i7 mp3
player for example).
Provide more info:
1. Is device conforms USB 1.1 or USB 2.0 ?
2. Output of "cat /proc/bus/usb/devices" after removal/insertion

i have the same problem ,ant it appears then i put 2 usb devices to asus
wl500gp.everything was working well ,till i rebooted asus ,know i cant neither 
remove
modules neither force one usb device to work.and asus is far away from me that i
could unplug device ant test if it work if i tried to put it in then device has 
booted..

Which device exactly has problem? Problem appears with specific device or in 
specific
usb socket(upper/lower)?

I see following message only:

 usb_control/bulk_msg: timeout

 usb.c: error getting string descriptor 0 (error=-145)


it means that device didn't answer in reasonable time. One possible variant, 
that
power is not enough for hdd start (router has much weaker usb powering than 
desktop).

bad news ,8 gb pqi flash drive is dead,i don't know  is it because of that 
problem or
it had overheated  ,or for any other reason , but it has died after 2 or 4 
month off
use,no swap on if or other thing that could make a lot of continuous writes to 
it .
stooped working after reboot of router.once was same problem ,but i was near 
,and
changed usb devices from one port to other ,and it helped.now usb drive is 
detected
on win machine ,but when you try to enter to it ,says please insert disk or 
something
like that. 

The DK14FA-20 hard drive in my Gmini 220 died.  (Suddenly it started clicking 
very
loudly and having repeated head crashes.)  Now I'm using a 16GB Kingston Data
Traveler 102 (DT102/16GB).  It works perfectly with WL500W-1.9.2.7-d-r1222.trx. 
 This
issue does not occur; I can unplug it and and then plug it back in without 
problems.

> Comment 5 by boris.gjenero, Today (10 hours ago)
> The DK14FA-20 hard drive in my Gmini 220 died.  (Suddenly it started clicking 
very
loudly and having repeated head crashes.)

Looks like your hdd is under insufficient power.
Try to connect it via usb hub with external psu.

ps, lly, is it real issue?

I'm not sure. Awaiting for additional info only.

> Looks like your hdd is under insufficient power.
> Try to connect it via usb hub with external psu.

The Gmini 220 cannot charge or power itself via USB, and I was using an external
power supply. That power supply seems to work properly.  The hard drive 
definitely
failed.  I'm sorry that I didn't do any more troubleshooting on this issue 
while I
still had a functioning Gmini 220.

No more info, probably specific hardware problem.