I think Your Laucher is getting failed to load due to some reason thats why you are not getting GUI.
And as per your log you are getting below error so many places.
"E/AndroidRuntime( 2434): FATAL EXCEPTION: launcher-loader"
So i suspect that some library is missing for Launcher.
Try to do all the steps again from begging including flashing of SDCARD.
And try once to make screen time out also more with the help of below link before doing it freshly.
http://osdir.com/ml/android-porting/2011-08/msg00182.html
May be your system is going in suspend mode before lauching the laucher itself.