You have a lot of modules loaded. But I didn't see the hci modules that are used
to read from the usb. On my machine Ubuntu 8.04 I have the following modules
loaded for hci:
----------------------------------------------------------------
bernard@pollux:/etc$ lsmod|grep hci
hci_usb 16540 0
bluetooth 61156 1 hci_usb
sdhci 19076 0
mmc_core 51460 1 sdhci
ehci_hcd 37900 0
uhci_hcd 27024 0
usbcore 146412 5 hci_usb,usbhid,ehci_hcd,uhci_hcd
----------------------------------------------------------------

But normally, those modules should be loaded if needed... So may be you should
check messages... Try "grep hci /var/log/messages" ... What's going on about
USB ? Any error messages ?

What happens if you manually mount the device in a root shell ?

Try "sudo mount -t msdos /dev/sdb1 /media/key" (just create the mount point
before and correct the usb device to use the good one). Can you read the
filesystem on your device ?

By the way, would it be possible that you haven't unmount the old mount points
and that they are still hanging there ? Take a look in a shell at "mount"
output and manually unmount any USB device hanging there. It will free the
devices used to access those USB keys.