Good news is that that build loads OK on my camera (confused me slightly because it doesn't show the CHDK splash screen at startup, the first time, so I thought it wasn't loading).
I think the splash screen is a configuration issue. I'm not sure if it works for older cameras, but I would try resetting by deleting the file:
CHDK/CCHDK3.CFG
I'm still back on 2619, so anything that's been fixed on the camera since then isn't there.
Also, are you sure you got ALL the files in the zip onto your card, including the modules? You have to overwrite all the modules, since a lot of my new code is in the lua module.
Forgetting about the raw files for now, the next thing to try would be to run the time lapse script. It's still pretty rough, and not documented, but see if you can figure it out. You can try using all the defaults, and just press <menu> to get it started.
If it works, you can try changing the various parameters, and setting the metering areas before you press <menu> and see what happens. I predict that the camera may crash if you set the focus to 1 (hyperfocal distance) or -1 (infinity). Good luck.