This just in from the Tidbits folks:
In addition, users are reporting that the problem is not limited
to FireWire 800 drives; a fellow Mac author was bitten by the
problem using a FireWire 400 drive with the Oxford 911 chipset.
For the time being, we recommend keeping Panther away from any
FireWire drives until this issue is resolved. If you must use an
external FireWire drive in Panther, be sure to mount the drive
manually after the Mac has started up, and dismount it manually
before restarting. And for goodness sake, make sure you're backing
up carefully, preferably to CD or DVD, or over a network.