It was already reported today and it happened to me @home. I started KDE
via startx, up came splash screen, the last thing displayed were these
KDE gears, then splash screen went away and there was nothing more. In
ps I could see seberal kdeinit's, the last two (father and child)
waiting on read(5,...) and read(7,...) (from memory, sorry). There were
noting useful in .xsession-errors just usual crap about DCOP server
already running, not ELF etc.
BTW it took some time. I typed startx and went to make tea. As I came
back I exactly saw splash screen disappearing.
As usual, I ask myself why this should start to happen just before
release ...
-andrej