I have seen a number of 12G Dell servers getting stuck after POST with the message below.
If you leave the server long enough it does move on. I have seem this take 45 minutes!!!
Dell PS are aware of the problem which seems to mainly effect, but not limited to blades with quad port mezz cards.
I have fixed this for one customer by using the lice cycle controller to update all the firmware, but the next site I saw this the firmware didn't work.
The work around seems to be to enter the Life Cycle controller and under the iDRAC setting untick "Collect hardware inventory on boot"
Update: Doing so stops m1000e BIOS profiles from working! Dell state they are having a lot of calls over this and are working towards a fix.