This is my fairly uneducated guess but:
Voltage dividers are good for voltage references but not so much for power supply.
I read that the output voltage varies with load and that you waste allot of power.
Measure the voltage your getting to your device when its connected and powered as apposed to the no load measurement you have probably been taking from the voltage divider.
Also be sure your taking your voltage to your device from the right points in the divider, if you see 3.3 volts on one side you will see 1.7 on the other.
I suspect its a voltage issue and that it is that your divider cannot maintain the voltage at the current you require or that you are using the wrong side of the divider and are undersupplying the voltage to the device. Either way test voltage with the device connected to be sure.
I think your better of with a 3.3v linear voltage regulator, they will supply you a clean and stable 3.3 v.