No, I didn't miss this one:
If you're thinking about posting a bug report here, please be very sure that you've configured everything properly and that the only logical explanation left for your problem is a bug in m0n0wall.
The embeddedxxx.img gives (garbage), but it displays rows over rows.
The same cable and software work with the embeddedxxx.img, and flawlessly with a Soekris.
If you're simply not sure how to use m0n0wall in a particular situation, or whether it will work in that situation at all, post your question(s) in the other boards first. Otherwise, your post may be deleted.
So I had done.
Please make sure to include the following information in your bug report:
* m0n0wall version(s) that you use
* hardware details (type/make of NICs etc.) if relevant
* software versions of other components that may be relevant to your problem (browser, operating system, etc.)
* all the steps needed to reproduce the problem]
That was:
generic-pc-1.32.img
TEAK 3018
GtkTerm
9600,8,N,1 (default), and as given in the Quick Start Guide:
http://doc.m0n0.ch/quickstartpc/initial-serialconsole.html