Still happening on saucy (tried the live cd on a usb stick), as well as
the latest mainline kernel build (3.12rc4).

Let me know what I can do to help further debug this.  This has been an
issue since 11.10.

The reader is a removable component from the laptop chassis.  If I
remove it (while 12.04 is running) and plug it back in, then remove and
reload the sdhci{,_pci} modules, I get these messages in dmesg:

[  176.670672] sdhci: Secure Digital Host Controller Interface driver
[  176.670676] sdhci: Copyright(c) Pierre Ossman
[  176.678490] sdhci-pci 0000:05:00.0: SDHCI controller found [1180:e823] (rev 
4)
[  176.678675] sdhci-pci 0000:05:00.0: enabling device (0000 -> 0002)
[  176.678694] sdhci-pci 0000:05:00.0: found PCI INT A -> IRQ 11
[  176.678705] sdhci-pci 0000:05:00.0: sharing IRQ 11 with 0000:00:16.3
[  176.678721] sdhci-pci 0000:05:00.0: sharing IRQ 11 with 0000:00:1c.3
[  176.798852] mmc0: Reset 0x1 never completed.
[  176.798940] mmc0: Unknown controller version (255). You may experience 
problems.
[  176.798947] sdhci-pci 0000:05:00.0: Will use DMA mode even though HW doesn't 
fully claim to support it.
[  176.798968] sdhci-pci 0000:05:00.0: setting latency timer to 64
[  176.798989] mmc0: no vmmc regulator found
[  176.918662] mmc0: Reset 0x1 never completed.
[  176.918869] Registered led device: mmc0::
[  177.038649] mmc0: Reset 0x1 never completed.
[  177.039975] mmc0: SDHCI controller on PCI [0000:05:00.0] using DMA
[  177.081102] mmc0: Controller never released inhibit bit(s).
[  177.200979] mmc0: Reset 0x2 never completed.
[  177.320764] mmc0: Reset 0x4 never completed.
[  177.333336] mmc0: Controller never released inhibit bit(s).
[  177.453147] mmc0: Reset 0x2 never completed.
[  177.572888] mmc0: Reset 0x4 never completed.
[  177.586292] mmc0: Controller never released inhibit bit(s).
[  177.706053] mmc0: Reset 0x2 never completed.
[  177.825787] mmc0: Reset 0x4 never completed.
[  177.840300] mmc0: Controller never released inhibit bit(s).
[  177.960059] mmc0: Reset 0x2 never completed.
[  178.079795] mmc0: Reset 0x4 never completed.
[  178.091966] mmc0: Controller never released inhibit bit(s).
[  178.211762] mmc0: Reset 0x2 never completed.
[  178.331492] mmc0: Reset 0x4 never completed.
[  178.343613] mmc0: Controller never released inhibit bit(s).
[  178.463387] mmc0: Reset 0x2 never completed.
[  178.583146] mmc0: Reset 0x4 never completed.
[  178.595290] mmc0: Controller never released inhibit bit(s).
[  178.715147] mmc0: Reset 0x2 never completed.
[  178.834908] mmc0: Reset 0x4 never completed.
[  178.847418] mmc0: Controller never released inhibit bit(s).
[  178.967470] mmc0: Reset 0x2 never completed.
[  179.087228] mmc0: Reset 0x4 never completed.
[  179.093543] sdhci: Switching to 3.3V signalling voltage failed
[  179.105616] mmc0: Controller never released inhibit bit(s).
[  179.225644] mmc0: Reset 0x2 never completed.
[  179.345408] mmc0: Reset 0x4 never completed.
[  179.465496] mmc0: Reset 0x1 never completed.

The card, of course, still doesn't work.

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https://bugs.launchpad.net/bugs/965280

Title:
  Thinkpad T420s - Ricoh e823 not working with SDHC cards (11.10 and
  12.04)

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