Same problem here. Reported it to support about a week ago no, but no solution yet. (Form population and progressive profiling)
Multiple times a day, all Eloqua LP`s with one of these components will simply be unreachable, and time out.
@ Cathy Danahy: same here again, "Update Contacts - With Form Data" changes to "Custom values" after saving. Adding another field to the form seems to remedy this behaviour...