There seems to be a bug in /etc/rc.d/rc.sysinit mixer load.
1.  The "if" statement syntax is wrong and will never be true.
2.  Since the action was directed to /dev/null, it would never display.

From initscripts-4.68-1.i386.rpm (rc.sysinit):
# Load mixer settings
if [ grep -q "14 sound" /proc/devices 2>/dev/null -a -f /etc/.aumixrc -a -x
/bin/aumix-minimal ]; then
        action "Loading mixer settings" /bin/aumix-minimal -f /etc/.aumixrc
-L >/dev/null
fi


This should be:
# Load mixer settings -- fixed by SCK 11/29/1999
if grep -q "14 sound" /proc/devices 2>/dev/null && [ -f /etc/.aumixrc -a -x
/bin/aumix-minimal ]; then
        action "Loading mixer settings" /bin/aumix-minimal -f /etc/.aumixrc
-L
fi