Congrats, your internal flash is fine
Regulator errors are normal.
But it looks like there are errors on your external sd card (I guess loop0 refers to the update.img file of the sd rescue image.)
Anyways - be carefull with recovery images. They only recover the system and data partitions.
But some firmware updates also update the kernel which is in RAW partition (aka first 24MB of unpartitioned space in mmcblk2).
And if kernel and system partition do not match, you may get rotating arrows as well.
According to your run of version_check, your reader is on initial firmware release, so try to find a matching recovey image first.
Also, the data partition of the recovery images is not empty. It may be better to only restore mmcblk2p10 and format reader and data partitions like factory reset does via
Code:
mkfs.ext4 -L data -m 0 -j /dev/mmcblk2p9
mkdosfs -n READER -F 32 /dev/mmcblk2p4