Updated to the latest qemu packages from koji: 

qemu-0.10-0.7.kvm20090310git.fc11.x86_64

There are some files missing from the /usr/share/kvm/ dir that are needed for guests to start: 

virsh start thulsadoom
error: Failed to start domain thulsadoom
error: internal error unable to start guest: libvir: Security Labeling error : SELinuxSetSecurityLabel: unable to set security context 'system_u:system_r:svirt_t:s0:c476,c963': Invalid argument.
char device redirected to /dev/pts/0
Could not load option rom '/usr/share/kvm/extboot.bin'

and 

[root@theleb ~]# virsh start thulsadoom
error: Failed to start domain thulsadoom
error: internal error unable to start guest: char device redirected to /dev/pts/0
Could not read keymap file: '/usr/share/kvm/keymaps/en-us'

If I copy the /usr/share/qemu/extboot.bin and the /usr/share/qemu/keymaps files over to /usr/share/kvm, everything works as expected. Perhaps these should be linked? or the kvm version should look for them in /usr/share/qemu?