This same thing happened to me. I was mke2fs'ing a 2.1 gig partition of a
2.1 gig drive, and it would often hang (did it about three times in four
days, due to EXT-2 corruption). I was so convinced the system was hung
that I pressed ctrl-alt-delete, and all of the sudden the mke2fs started
again, until it was killed by the reboot.
Hope this is of some help... Could you also keep me advised of any
changes?
Dave