I have the same situation every now and then. I'm running Sapphire 1.0 and the problem seems to be related to SetCPU changing the maximum speed as a result of a profile calling for it. I can reproduce the problem by manually changing the maximum speed - doesn't matter to what. Once the speed is changed I can not turn on Bluetooth until I have rebooted. Once I reboot, Bluetooth is fine until the next time SetCPU changes the maximum.