[QEMU 0.9.1] LiveCD, "NoDebug" option: Intermittent/Permanent 'IO1_INITIALIZATION_FAILED' BSOD

This issue could be a QEMU 0.9.1 bug,
but it worked fine until recently,
so it's worth to report/investigate, at least.

–

1. Start LiveCD.
2. Boot with first ("NoDebug") option. (Debug and Screen options work fine.)
2r0. (text screen) Load completes.
2r1. (logo screen) Load hangs at 85% of the bar (bottom screen bar continues to work, very low cpu %) for 2 min 40 s.
2r2. BSOD:

IO1_INITIALIZATION_FAILED

*** STOP: 0x00000069 (0x00000000, 0x00000000, 0x00000000, 0x00000000)

Kernel Debugger: Serial port not found!

–

(ToDo, 1st part: Check further when this intermittent issue started.)

reactos-livecd-0.4.15-dev-2790-ge8277e5-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2791-g16e988d-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2805-gfb9ebe1-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2812-g3f16c86-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2815-gcf1a95a-x86-gcc-lin-dbg
Intermittent: (less than) 10 tries is enough to reproduce.

–

reactos-livecd-0.4.15-dev-2816-g838abc4-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2820-g3ad38f2-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-2849-g650cd77-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-3098-g1105b02-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-3222-g92d0dd3-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-3229-g22e58e6-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-3267-g43f1d91-x86-gcc-lin-dbg
reactos-livecd-0.4.15-dev-3286-g89fd2b8-x86-gcc-lin-dbg
As far as I tested, this issue is now permanent.
Let's fix that first...