I actually did almost nothing. I only added a file /etc/pm/sleep.d/01lmce which is the pm-utils equivalent of /etc/hibernate/scriptlets.d/lmce. A little different syntax.
case "$1" in
Other than that, I just installed the pm-utils package. Running pm-suspend suspends it to ram, and it resumed successfully afterwards. Keep in mind that I already had uswsusp and hibernate installed. I think pm-utils recommends hibernate.
Pm-suspend actually logs everything to /var/log/pm-suspend.log, so the "Waiting for device..." message is found there.
I changed one line in the suspend script:
echo "Waiting for $RegCount devices to shutdown ($Devices)"
adding the ($Devices) part, and suspended.
It turns out that it is the MythTV_Player that takes the most time to shut down.
I was thinking of adding a description to the wiki suspend article.