Is your recognising SD Card otherwise, other than MAGLDR?
I have faced a similar problem where neither WM6.5 or WP7 or MAGLDR or CLK detect the SD Card however it is detected by bootloader.. See link below
Can you try to installing region specific ROM instead of Asia/India version. I faced similar problem last week as I bought phone in Europe (WWE version) but I was trying to update using Asia/India version.
Also, have you ever used HSPL on your ...