you may try opening the unit top cover and visually check what happens when you insert the IBM card. You may also try a different media, like a CFCard and see if the problem is still there or not. Depending on both suggested tests, you then will have to decide if the unit should come back at the factory for servicing.
We have almost no experience with those IBM devices as in time CFCs have become so popular and cheap. I have never had any report like yours.
all the best