...and it does indeed seem to correctly build a
working nvidia kernel module at boot time, but
I did notice this system startup ordering bug
I submitted to livna:
http://bugzilla.livna.org/show_bug.cgi?id=1995
at least it seems like an ordering problem to me :-).
Don't know if there is any weird interaction with
the new startup script mechanism also involved in this.
(This was on fedora 9).