2.6.39-rc1: f23eb2b breaks console output

[Alexander Beregalov]

Hi

commit f23eb2b2b28547fc70df82dd5049eb39bec5ba12 tty: stop using
"delayed_work" in the tty layer
breaks console output for me.
When I try to run a command with many output lines (like 'dmesg' or
'ps ax') console (both local or network) hangs up for 30-100 minutes.
It hangs not completely, it responses every 10-20 minutes with few
lines more on the screen.
LA becomes 10-20.

Reverting the commit returns things back to normal.
Anything else I can add to report?

It is UP x86, config is attached

Attachment: config.gz
Description: GNU Zip compressed data