For some reason, the netfs script hangs on bootup with the latest initscripts RPM, and I can't explain why. When booting up in runlevel 3, it goes through the regular init procedures, then gets to netfs and just prints "mounting NFS filesystems" and will hang there for an infinite amount of time. If I press "I" during bootup and don't start any of the /etc/init.d/* services, then start each of them after login, netfs loads fine. This is while using kernel 2.4.0-test4, and from the machine running the NFS daemon, I can see that only the first NFS share is being mounted. If you need any more info, feel free to ask.
looks like this doesn't happen anymore with the latest rawhide.