The attemp to mount /var/shm causes modprobe to complain that there is no shm module (on 2.2.x kernels), since shm will be hard compiled into 2.4 afaik, i suggest adding "alias shm off" to /etc/conf.modules, so that new users won't be scared by this message. On a related note the mounting of /var/shm at this point also causes an error that modules.dep doesn't exist on the first boot after a new kernel install, so maybe do this mount after runnign depmod, before that shm is probably not needed anyways.
This also happens with beta2.
Should be fixed as of beta3.