With the isolation of the PHY, 'link up' takes more than 2 seconds:

 8.241194 e100 0000:00:09.0 firmware: using built-in firmware e100/d101s_ucode.bin
 8.259478 e100_configure: [00-07]=16:08:00:01:00:00:26:07
 8.263462 e100_configure: [08-15]=01:00:2E:00:60:00:F2:48
 8.263462 e100_configure: [16-23]=00:40:FA:86:3F:05:00:00
 8.266134 e100_set_multicast_list: mc_count=0, flags=0x1002
 8.270737 e100_configure: [00-07]=16:08:00:01:00:00:26:07
 8.274727 e100_configure: [08-15]=01:00:2E:00:60:00:F2:48
 8.274727 e100_configure: [16-23]=00:40:FA:86:3F:05:00:00
 8.274727 e100_intr: stat_ack = 0x20
 8.278066 e100_watchdog: right now = -74619
 8.282389 mdio_ctrl: READ:addr=1, reg=4, data_in=0x0000, data_out=0x182405E1
 8.286339 mdio_ctrl: READ:addr=1, reg=0, data_in=0x0000, data_out=0x18203000
 8.289356 mdio_ctrl: READ:addr=1, reg=5, data_in=0x0000, data_out=0x182501E1
 8.294842 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.298791 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.301810 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.307293 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.311244 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.314260 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217809
 8.318211 e100_rx_indicate: status=0x0000
 8.322954 e100_tx_clean: cb[0]->status = 0xA000
 8.326946 e100_tx_clean: cb[1]->status = 0xA000
 8.329309 e100_tx_clean: cb[2]->status = 0xA000
 8.334034 e100_tx_clean: cb[3]->status = 0xA000
 8.338028 e100_tx_clean: cb[4]->status = 0xA000
...
 8.355248 e100_configure: [00-07]=16:08:00:01:00:00:26:07
 8.359238 e100_configure: [08-15]=01:00:2E:00:60:00:F2:48
 8.359238 e100_configure: [16-23]=00:40:FA:86:3F:05:00:00
 8.359238 e100_intr: stat_ack = 0x20
 8.362559 e100_rx_indicate: status=0x0000
 8.366550 e100_tx_clean: cb[5]->status = 0xA000
 8.369792 e100_tx_clean: cb[6]->status = 0xA000
 8.374548 e100_set_multicast_list: mc_count=1, flags=0x1003
 8.379152 e100_configure: [00-07]=16:08:00:01:00:00:26:07
 8.383143 e100_configure: [08-15]=01:00:2E:00:60:00:F2:48
 8.383143 e100_configure: [16-23]=00:40:FA:86:3F:05:00:00
 8.383143 e100_intr: stat_ack = 0x20
 8.386435 e100_rx_indicate: status=0x0000
 8.390425 e100_tx_clean: cb[7]->status = 0xA000
 8.393667 e100_tx_clean: cb[8]->status = 0xA000
 8.398399 e100_intr: stat_ack = 0x20
 8.403041 e100_rx_indicate: status=0x0000
 8.407033 e100_set_multicast_list: mc_count=1, flags=0x1003
 8.410971 e100_configure: [00-07]=16:08:00:01:00:00:26:07
 8.414961 e100_configure: [08-15]=01:00:2E:00:60:00:F2:48
 8.414961 e100_configure: [16-23]=00:40:FA:86:3F:05:00:00
 8.414961 e100_intr: stat_ack = 0x20
 8.418260 e100_rx_indicate: status=0x0000
 8.422249 e100_tx_clean: cb[9]->status = 0xA000
 8.425492 e100_tx_clean: cb[10]->status = 0xA000
 8.430746 e100_intr: stat_ack = 0x20
 8.435388 e100_rx_indicate: status=0x0000
10.567601 e100_watchdog: right now = -74046
10.571931 mdio_ctrl: READ:addr=1, reg=4, data_in=0x0000, data_out=0x182405E1
10.577416 mdio_ctrl: READ:addr=1, reg=0, data_in=0x0000, data_out=0x18203000
10.582911 mdio_ctrl: READ:addr=1, reg=5, data_in=0x0000, data_out=0x182541E1
10.586862 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x18217829
10.589877 mdio_ctrl: READ:addr=1, reg=1, data_in=0x0000, data_out=0x1821782D
10.595317 NIC Link is Up 100 Mbps Full Duplex