Oh well since no one replied to this I might as well reply to myself here
I was wrong, it was not a PNY card but an Impact brand SD card (I have no idea where I got the idea it was a PNY...weird!!)
Anyhoo, this is what I ended up doing after searching on this forum about other people having similar problems with SD cards:
I re-formatted the card as vfat and thought that it would be best to stick with the original format it came with and just manually create symlinks from apps installed onto the SD card.
This kinda sucked.....as it was a pain to have to go through the task of installing apps, create symlinks...rinse and repeat (Not for every app though).
So I decided to give ext2 format another go on the SD card. But alas, the same problem as before. Shutoff the Z, turn it back on and SD card appears corrupt. Bugger this I thought, lets try the tkcrom.
Back to the tkcromV2alpha3 I go after 3 months using OZ, and surprise surprise....the SD card works fine when you poweroff the Z and power it back on although I noticed that everynow and then when I turn the Z on, it thinks the SD card has been ejected so will report it as so, then it thinks the SD card has been inserted and re-mounts it.
Even though now I use the tkcrom with the Opie apps, it would be nice to go back to OZ mainly because of the way it handles memory.
Is there a difference in the way the sharp based rom handles SD/MMC cards compared to the OZ roms?