Talked to slinbox, paid the 30 bucks. The 40 sec cold start went like this. Hold the reset key down for 20, pull out the power while holding down the reset buttonfor 20, and hold the reset for anther 20 secs after plugging in the power once again. We tried to log in again and he determined it was a hardware issue because the lights blinked while i was loggin in! They Refunded the 30 bucks, and they are gonna send me a new device and refund the 100 bucks(on hold) once I RMA the old box.
Thanks you slingbox for making it right!!!!