This may either be an issue specific to my system with 'update-rc.d'
and/or 'invoke-rc.d' or to Gutsy in general. I am unable to test
further but I have crafted a workaround...
After the process goes defunct, Ctrl-C to kill it. Then edit
'/var/lib/dpkg/info/snmpd.postinst' (after backing up
I've completely removed the package and then reinstalled it and got the
same result. I can confirm the package actually installs, starts up,
and functions properly. My kernel version is: 2.6.22-16-sparc64-smp
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SNMP Upgrade ... Possible Bug? [USN-685-1]
https://bugs.launchpad.net/bugs/305002