udevd fails with error creating queue file, instance fails to boot

This issue was seen in multiple instances with specification i386(m1.small) + instance-store during alpha2 candidate testing for Oneiric:

[8223436.586718] EXT4-fs (xvde1): mounted filesystem with ordered data mode. Opts: (null)
Begin: Running /scripts/local-bottom ... done.
done.
Begin: Running /scripts/init-bottom ... done.
lxcmount stop/pre-start, process 173
udevd[204]: error: runtime directory '/run/udev' not writable, for now falling back to '/dev/.udev'

udevd[204]: failed to create queue file: No such file or directory

udevd[204]: error creating queue file

Instance then stops booting; normally fixed with a reboot.

ProblemType: Bug
DistroRelease: Ubuntu 11.10
Package: udev 171-0ubuntu4
ProcVersionSignature: User Name 3.0-3.4-virtual 3.0.0-rc5
Uname: Linux 3.0-3-virtual i686
Architecture: i386
CurrentDmesg:

Date: Wed Jul 6 12:28:22 2011
Ec2AMI: ami-fa5fa493
Ec2AMIManifest: ubuntu-images-testing-us/ubuntu-oneiric-daily-i386-server-20110705.manifest.xml
Ec2AvailabilityZone: us-east-1d
Ec2InstanceType: m1.small
Ec2Kernel: aki-805ea7e9
Ec2Ramdisk: unavailable
Lspci:

Lsusb: Error: command ['lsusb'] failed with exit code 1: unable to initialize libusb: -99
ProcEnviron:
 LANG=en_US.UTF-8
 SHELL=/bin/bash
ProcKernelCmdLine: root=LABEL=uec-rootfs ro console=hvc0
ProcModules:
 appletalk 33288 0 - Live 0x00000000
 ipx 27747 0 - Live 0x00000000
 p8023 12701 1 ipx, Live 0x00000000
 acpiphp 23408 0 - Live 0x00000000
SourcePackage: udev
UpgradeStatus: No upgrade log present (probably fresh install)