Following
Install ArcLinux on USB Thumb in a VM procedure by
moonman, I reformatted my old flash and installed ArchLinux 3.1.10 onto it in a VM booted from Parted Magic ISO. Since the 500Mb flash drive was small enough, I copied the tarball to a different drive, unpacked it to the mounted Thumb (add
-C [dir] at the end of
tar command), then changed dir to the thumb's drive root and
sync.
After that the Thumb was hooked to GFN and booted ArchLinux quite fast.

But... when trying to update Uboot following local DockStar's Guide and the above hint from
bodhi, Jeff's script installed all required utils onto the Thumb, and then spilled, referring probably to Ubit:
## Unknown uBoot detected on mtd0: 3044c8d21fa6a178c7def496dee9c768
##
## The installer could not detect the version of your current uBoot
## This may happen if you have installed a different uBoot on
## /dev/mtd0 or if you have bad blocks on /dev/mtd0
##
## If you have bad blocks on mtd0, you should not try to install uBoot.
##
## Installation canceled.
The advantage of that procedure was no Serial Cable and GFN disassembly needed. The questions now are:
- how to update from Ubit to the latest Uboot? That in turn would allow to update ArchLinux to the latest version, or hopefully simply restore my DockStar Thumbwith all apps to the GFN Thumb.
- do I need to change Arc number after installing Uboot to GFN, and what will happen if I don't?
- what are advantages & drawbacks of using Uboot with GFN instead of Ubit? Will Uboot allow to boot Arch from SATA?
EDIT: found
this thread by
moonman addressing the issues.