I have several Android devices that I have been using during the development cycle of the game I'm currently working on, and when launching to newer Tegra 2 Moto devices it always hangs at the splash screen. The strange thing is that I can press the home button to go back and relaunch it from my multitasking panel and it works just fine. It seems to only freeze initially, but it does it with laser like precision. Any info on this subject would be greatly appreciated
The problem seems to be in the size / scaling of the splash screen (which shows up for the landscape, not the portrait?). I had the same problem with the Motorola Xoom. I changed the splash screen to a 128x128 non-interlaced png (set to GUI full color) and it gets past the splash screen without problem :)
And don't forget, in player settings, to set your build identifier, and it may be that we have to do "Create new Keystore" at least once for each new unity project (ie even though it says "Use Existing Keystore" by default, that might not be pointing at some global Unity keystore file in your user settings type of thing)
Thanks for the reply. I was about ready to pull my hair out! Thumbs up for the assistance. 
Omg i have been at this for days! Watched countless tutorials, tried several Unity versions and all i really had to do was tick that stupid Keystone option!? Not one tutorial or forum post has mentioned this :/. Im very thankful for the help and i can now successfully build and play on my Galaxy S2.