After the upgrade from Virtualbox 2.1 to 2.2 I clicked on the start button. I was asked to click away the confirmation dialog to accept some new config file format. After that the guest (XP) booted fine. The USB device (a CD/DVD drive) was accessible as expected. New guest additions were not installed. I stopped XP: No error message. Next I clicked on the start button again. I got a black window for the virtual machine, but it did not boot. Even the new welcome screen was not shown. Both GUI and virtual machine windows were not refreshed, either. I could delete both windows using the X window manager, but the processes did not terminate. I could kill them with kill(1).
Next I disabled USB support and tried again: The virtual machine did boot. Shutdown, enable USB, startup: The virtual machine got frozen.
Please note that on the very first run after the upgrade the USB support seemed to work fine.
Attached you can find the log files of these sessions.