The session pam_gnome_keyring.so now needs to be run after pam_systemd.so. It seems that pam_systemd.so sets XDG_RUNTIME_DIR.
This is because of this change in gnome-keyring 3.4.0:
Created attachment 574543 [details]
Move session pam_gnome_keyring.so so after pam_systemd.so
gdm-22.214.171.124-2.fc17 has been submitted as an update for Fedora 17.
* should fix your issue,
* was pushed to the Fedora 17 testing repository,
* should be available at your local mirror within two days.
Update it with:
# su -c 'yum update --enablerepo=updates-testing gdm-126.96.36.199-2.fc17'
as soon as you are able to.
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then log in and leave karma (feedback).
gdm-188.8.131.52-3.fc17 has been submitted as an update for Fedora 17.
gdm-184.108.40.206-4.fc17 has been submitted as an update for Fedora 17.
gdm-3.4.1-1.fc17 has been submitted as an update for Fedora 17.
gdm-3.4.1-1.fc17 has been pushed to the Fedora 17 stable repository. If problems still persist, please make note of it in this bug report.