Judah:

  Are you using a router? I had to program my router to allow udp traffic to my computer. Prior to that I had simialr repsonce to yours. You may want to hook directly to your computer till you get it running. But you need a crossover cable, a normal cable wont connect straight to your computer.
  The led flashign means its requesting a DHCP address (and may be getting one..) so without a tracing program such as EtherReal, it can be hard to tell whats going on. You may want to download etherreal and show me a trace of all message traffic when you try conencting with Gloader. Just trace UDP messages and all you shoudl see is the G100 and your machine, it may tell us where its blcoked at right now with the normal connection..

Art