I have one of the older Sparkfun arduino pro mini boards with the 4 connections (grnd, power, tx and rx). Works great.
I recently purchased the Sparkfun:
Arduino Pro Mini 328 - 5V/16MHz and FTDI Basic Breakout - 5V
When I connect the above to the USB cable the red power LED on the Arduino comes on, however, the green LED (pin 13) fast blinks. Pressing reset pauses the blinking while reset is pressed and once released the fast blinking starts again.
If I try to download, the TX light on the FTDI blinks, but ultimately the download fails.
I made sure the grn and blk of the boards match each other.
Any thoughts on this?