Bit of an update for everyone.
Got one that works on a PAL model 1!
First send mine in to get fixed but when I got it back it still didn't work but gave a slightly different error. Then Krikzz send me a new board revision, that one works like a charm for as far as I can see. Though looking at the old board and new one I don't see any physical difference, so my best guess is that the software got updated that the cart uses to interface with the console before it reads the SD. But that's just a guess.
If anyone needs/wants something specific tested on this new board revision please say so and I'll test it. But all games I've thrown at it work, works great with my FM mod and works with both 50 and 60hz on a PAL Model 1. (previous one didn't work on a stock one or a modded one regardless of frequency)
At any rate, it work now and I'm happy about that!