I'm currently using Arch and I think the mac-address is taken from /usr/local/mac_addr.
Dec 31 18:00:07 alarm kernel: [ 5.916784] eth0: device MAC address 00:25:31:01:02:03
Dec 31 18:00:07 alarm kernel: [ 7.920532] libphy: stmmac-0:00 - Link is Up - 1000/Full
This is indeed the MAC set in mac_addr. I think setting it to a static ip changed dhcpcd's behaviour because now I don't get the timeout message anymore. This is my everything.log after a boot http://pastebin.com/CUjvktPZ
Anything suspicious in there?
Thanks
crckmc