OK, following both the instructions here http://www.mail-archive.com/mac-n-dos@mail.maclaunch.com/msg01185.html
and here http://www.network54.com/Forum/30406/message/1180072114/System+Specs I'm ready to give it another shot.

1) Check dip switches for cpu AMD K6-3 400mhz (check here for settings http://www.mandrake.demon.co.uk/Apple/omweb/orangepcfaqs.html#Anchor-629...) check.

2) remove any other PCI cards and move OrangePC 620 to new slot. check.

3) Delete preferences file for orangepc (found in macHardDrive/System Folder/Preferences). check.

4) Start OrangePCi app. Create 2 hard-drive images, each at least 500mb in size, set as C and D drives. Point the floppy setting to a bootable floppy image (provided on OrangePCi easy install cd). check.

5) hit "cold boot"

6) system hangs...

7) repeat 1-3, follow steps from mail-archive.com(link above...) I get to step 5 on that sites list...system hangs...

8) turn off virtual memory, repeat step 7...system hangs...

It would seem that no matter what steps I take, the system will hang once I click the "cold boot" button, or double clicking on the OrangePci app/icon while a preference file is in place. The only time double clicking on the OrangePci app/icon works is when the preference file has been deleted...

I wonder if a software or Os update/patch might fix this???

PS the last thing I see when the "system hangs" is the OrangePCi app splash screen that says "initializing" at the bottom...