The things that are most likely to be problematic are:
In the case of the PSU, we commonly read reports of unexpected behaviour of the lights.
As for the SD card, we sometimes read about cards that don't work at all, and we also sometimes find cards that work intermittently. But the way I read it, you aren't using (or even trying to use) an SD card. Your reference to Debian suggests to me that you either put Debian onto the NAND yourself, or you bought a plug that was preconfigured that way. My advice would vary, depending upon which condition is true.
However, you mentioned issues with the lights, and that does raise the possibility of a PSU problem. (It might also be worthwhile using a different wall outlet. We had one problem when we first started selling Sheevaplugs with a customer whose mains supply seemed to be at the heart of their problems).