That's a pretty darned strange issue. It is, at least theoretically, possible that there's something wrong with the onboard networking hardware, and while OS9 can "overlook" the issue enough to function, OSX is pickier (or uses some feature of it that OS9 doesn't), and so fails.
This is very unlikely, but here's something vaguely similar I've seen: under 10.2, if the network wasn't responding properly (most often when the DHCP server in my cable modem was down), it would hang on startup for a very long time. It would, however, eventually kick in (I think the timeout was 5-10 minutes). I'm assuming this is unrelated to your issue, and I'm not sure how it'd help, but just thought I'd mention it.
You could always try the old standbys of motherboard CUDA switch, reset PRAM, then boot into open firmware and do a reset-all. This has resurrected firewire ports for people who had power glitches, so maybe it'll help with malfunctioning networking hardware.
You could also try shutting down, unplugging the computer from the wall, and letting it sit for a while (overnight, say)--that has also, on occasion, reset things that other methods didn't.
Good luck.