Please run "dmesg|tail" (without the quotes) after the insertion of the card, and post the result here
pcmcia_socket pcmcia_socket0: pccard: PCMCIA card inserted into slot 0
pcmcia 0.0: pcmcia: registering new device pcmcia0.0
eth0: failed to initialize firmware (err = -16)
spectrum_cs: register_netdev() failed
eth0: failed to initialize firmware (err = -16)
spectrum_cs: register_netdev() failed
pcmcia_socket pcmcia_socket0: pccard: card ejected from slot 0