I have experienced the same disconnecting issue...
I have only tried with on type of CF card though - Kingston Ultimate x266 32GB.
But with three different ones, same problem occurs
Anyone gotten closer to a solution?
I just picked one up from EverythingHerePlus they shipped it Priority Mail for $5.20. I'm especially impressed by the diminutive size and aluminum case. I just wish Delock made a Thunderbolt version, like their XQD readers.
http://www.everythinghereplus.com/electronics/delock-firewire-800-to-udma-compactflash-drive-read-writer
It looks Synchrotech carries them too, and they've posted benchmarks with it and several alternatives:
http://www.synchrotech.com/support/reader-compactflash-performance-benchmarks-udma.html