Yes, same issue here,
root@maoz-laptop:~# uname -a
Linux maoz-laptop 2.6.38-11-generic #48-Ubuntu SMP Fri Jul 29 19:02:55 UTC 2011
x86_64 x86_64 x86_64 GNU/Linux
System Information
Manufacturer: Hewlett-Packard
Product Name: HP ProBook 4520s
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https://bugs.launchpad.net/bugs/658317
Title:
Messages log filled with Intel IPS "ME failed to update for more than
1s, likely hung" messages
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