After installing rawhide-20040224, running: setfiles -v /etc/security/selinux/src/policy/file_contexts/file_contexts / yields a whopping 325360 lines of output. Appears there aren't any contexts on any files at all. Needless to say, enforcing mode falls all over itself.
I was getting contexts set up properly on x86_64 yesterday... hrmm :/
Should be fixed with the change I just committed. Although I don't want to know _why_.