Okay. i changed info in /and/etc/vold.fstab..mounted my sd with
mount -t vfat /dev/block/mmcblk0p1 /mnt/sdcard..and now i can see all what my sd contains but some apps tolds me that Can not detect SD Card
I can also confirm sending and receiving sms is working fine after the latest ofono update.
Also, was able to play xvid avi videos using moboplayer. (others wouldn't work though)