As far as I can work out, the action "Mounting local filesystems" 

mount -a -t nonfs,smbfs,ncpfs,proc

is over-optimistic, when trying to mount ncpfs. In order to mount any NCP
volumes, you need to have IPX configured in your network interface(s), and
that happends in the /etc/rc.d/init.d/network script, which is run
*after* rc.sysinit (as far as I can see).

This makes me wonder if there should not be another mount somewhere else in
the init scripts to deal with this. (I certainly had to add one in my
profile - I could have done it in rc.local).

Where am I going wrong?