Thanks Sandeep,
Peter Johnson seems to think that the server has started. In fact I am able to load the JBoss admin page from my browser. When I start the server from the command line, I left the machine idle for almost an hour, and the script did not progress any further than the log file posted at the top of this post.
When I start the server from Eclipse, the time out occurs. I extended the timer to over six minutes, and the timer still expired on the same line of the startup script on which the script stopped when I started the script from the command line.