@Matt_H:
Same here dude. SX32MkII gave me tons of trouble. I think that power distribution over the CD32 + SX32MkII module is way too flakey. My unit would sometime work, and sometime not. With or without a more powerful PSU.
For example it would always load stuff from external floppy just fine, but maybe 6 out of 10 times it would not detect the onboard ram (different modules tried and used), the FPU, or the hard drive. :-(