I'm going to reject this since thought was put into the matter and it was decided that initng is not suitable. If you feel that initng should be used instead of upstart, you should raise this on the ubuntu-sounder mailing list...
** Changed in: Ubuntu
Status: Unconfirmed => Rejected
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consider using initng in edgy eft to further speedup the boot process
https://launchpad.net/bugs/48491
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