Fails for me too (does that makes it confirmed). Adding break=mount to the boot line, and in the initramfs shell
mdadm --assemble --scan --auto=yes
spews out messages about /dev/md{0,1,2} not being found or some such
(sorry, scrolled away), and then the system boots.
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[feisty] non-working initramfs: failed to activate RAID
https://launchpad.net/bugs/75052
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