I started having this same issue after the latest upgrade (details below) - this may be a coincidence as I recently (2009-06-26) added the Belkin too. I have the F5U237-APL-S. My system.log shows timeouts and the 5 minute boot delay ending at "Timeout waiting for IOKit to be quiet" if I have an iPod connected to the USB hub.
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: timed out waiting for IOKit to quiesce
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: Busy services :
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1 [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0 [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1 [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000 [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0 [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass/IOSCSIPeripheralDeviceNub [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass/IOSCSIPeripheralDeviceNub/com
apple_driveriPodSBC [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass/IOSCSIPeripheralDeviceNub/com
apple_driver_iPodSBC/com_apple_driveriPodSBCNub [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass/IOSCSIPeripheralDeviceNub/com
apple_driver_iPodSBC/com_apple_driveriPodSBCNub/IOBlockStorageDriver [1]
Jun 28 17:54:59 -imac configd[14]: InterfaceNamer: iMac9,1/AppleACPIPlatformExpert/PCI0@0/AppleACPIPCI/EHC1@4,1/AppleUSBEHCI/iPod@ 24320000/IOUSBInterface@0/IOUSBMassStorageClass/IOSCSIPeripheralDeviceNub/com
apple_driver_iPodSBC/com_apple_driveriPodSBCNub/IOBlockStorageDriver/Apple iPod Media [1]
Jun 28 17:59:06 -imac /usr/libexec/hidd[40]: Timeout waiting for IOKit to be quiet
Jun 28 17:59:06 -imac /usr/libexec/hidd[40]: IOHIDEventQueueCreate: Unable to allocate queue memory from IOHIDSystem. (0x10000003)
Jun 28 17:59:06 -imac WindowServer[66]: Unable to create event queue via hidd: (0xe00002bd)
2009-06-27 23:16:14 -0700: Installed "Java for Mac OS X 10.5 Update 4" (1.0)
2009-06-27 23:16:32 -0700: Installed "Safari" (4.0.1)
2009-06-27 23:16:35 -0700: Installed "iMac EFI Firmware Update" (1.4)
2009-06-27 23:16:37 -0700: Installed "Bluetooth Firmware Update" (2.0)