It kinda sounds like a general network problem to me...if you run: ifconfig -a
ifconfig -a shows errors: 0 dropped: 0 overruns: 0 for both RX & TX packets
Do you see many errors? If you do..run this: mii-tool
mii-tool shows "eth0: negotiated 100baseTx-FD flow-control, link ok
What is the duplex setting? Does it match what is on the other side (switch, or system if it is a cross-over cable) What is the link between the two systems? 100Mbit LAN, or are you going over a router or something?
I am not sure about the duplex setting ifconfig -a is not reporting it so I have assumed it to be auto. It is a straight LAN connection not going through any routers with only a switch between the boxes.
The mii-tool output will show you the duplex setting ("negotiated 100baseTx-FD" from above tells you that it is set to auto, and it has decided on 100Mbit-Full Duplex).
Are you seeing it timeout right away, or are there some bytes transferred, then times out?
I take it that you have checked for errors/duplex problems on both machines (as well as selinux/iptables)? What about tcpwrappers? /etc/hosts.allow and /etc/hosts.deny are blank?
Mike