Try a different baud rate. The bootloader uses a non-standard baud of 74880, but once booted the serial baud is probably 115200 (this is also a configuration setting in menuconfig).
I tried multiple different baud rates: 115200, 57600, 38400, 19200, 9600, 4800, 1200. Every rate but 74800 gives me garbage. The Espressif menuconfig is set to flash at 115200 and monitor at 74880.
To see if there were any differences between the Espressif hello_world example operation and my FPC Xtensa operation, I captured the output from flashing and monitoring both projects, respectively.
The flash output between the two is the same except for the size of the main app written to the device at 0x00010000 as expected.
In the monitor output, the boot mode [boot mode:(3,7) vs boot mode:(3,6)] and the esp_image differ.
I assume the differences in the esp_image are due to the difference in the main app. But, here they are anyway.
hello_world (hello_world_main.c):
I (250) esp_image: segment 0: paddr=0x00010010 vaddr=0x40210010 size=0x1cc70 (117872) map
0x40210010: _stext at ??:?
I (333) esp_image: segment 1: paddr=0x0002cc88 vaddr=0x4022cc80 size=0x0724c ( 29260) map
I (348) esp_image: segment 2: paddr=0x00033edc vaddr=0x3ffe8000 size=0x00544 ( 1348) load
I (356) esp_image: segment 3: paddr=0x00034428 vaddr=0x40100000 size=0x00080 ( 128) load
I (383) esp_image: segment 4: paddr=0x000344b0 vaddr=0x40100080 size=0x050c0 ( 20672) load
hello.pp:
I (127) esp_image: segment 0: paddr=0x00010010 vaddr=0x40210010 size=0x1b288 (111240) map
0x40210010: _stext at ??:?
I (178) esp_image: segment 1: paddr=0x0002b2a0 vaddr=0x4022b298 size=0x05984 ( 22916) map
I (186) esp_image: segment 2: paddr=0x00030c2c vaddr=0x3ffe8000 size=0x0002c ( 44) load
I (189) esp_image: segment 3: paddr=0x00030c60 vaddr=0x3ffe8030 size=0x00604 ( 1540) load
I (203) esp_image: segment 4: paddr=0x0003126c vaddr=0x40100024 size=0x0007c ( 124) load
I (217) esp_image: segment 5: paddr=0x000312f0 vaddr=0x401000a0 size=0x04714 ( 18196) load
I don't know what else I can do.