Bug#541792: [lvm2] LVM not started early enough in boot strapping. Necessary FileSystems may be unavailable.

[vjxludelbyimt at nphiuu.mine.nu]

Yes, it seems you are right that /etc/init.d/lvm2 start does run early enough.  Perhaps, as you suggested, the USB devices are not available. Hmmm.  I guess I can find that out by editing the lvm2 start script and putting lsusb inside it.
My workaround is changing the rc.local script link in rc2.d to have priority 01 and starting lvm and then swap there.
Attaching the bootlogd log.
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Mon Aug 17 20:15:04 2009: .
Mon Aug 17 20:15:04 2009: Setting preliminary keymap...done.
Mon Aug 17 20:15:04 2009: Setting up LVM Volume Groups  Reading all physical volumes.  This may take a while...
Mon Aug 17 20:15:04 2009: .
Mon Aug 17 20:15:04 2009: Activating swap...done.
Mon Aug 17 20:15:04 2009: Checking root file system...fsck 1.41.3 (12-Oct-2008)
Mon Aug 17 20:15:04 2009: Root: clean, 20026/244320 files, 160357/975940 blocks
Mon Aug 17 20:15:04 2009: done.
Mon Aug 17 20:15:04 2009: Cleaning up ifupdown....
Mon Aug 17 20:15:04 2009: Loading kernel modules...done.
Mon Aug 17 20:15:05 2009: Starting early crypto disks...done.
Mon Aug 17 20:15:05 2009: Starting remaining crypto disks...done.
Mon Aug 17 20:15:05 2009: Checking file systems...fsck 1.41.3 (12-Oct-2008)
Mon Aug 17 20:15:05 2009: done.
Mon Aug 17 20:15:05 2009: Setting kernel variables (/etc/sysctl.conf)...done.
Mon Aug 17 20:15:05 2009: Mounting local filesystems...mount: special device LABEL="User" does not exist
Mon Aug 17 20:15:05 2009: /usr/local/share/GNU/Debian/Squeeze/debian-testing-i386-DVD-1.iso: No such file or directory
Mon Aug 17 20:15:05 2009: mount: mount point /usr/local/share does not exist
Mon Aug 17 20:15:05 2009: mount: special device /dev/USBDisk/varCache does not exist
Mon Aug 17 20:15:05 2009: failed.
Mon Aug 17 20:15:05 2009: Activating swapfile swap...done.
Mon Aug 17 20:15:05 2009: Setting up networking....
Mon Aug 17 20:15:05 2009: Configuring network interfaces...SIOCSIFADDR: File exists
Mon Aug 17 20:15:05 2009: Failed to bring up lo.
Mon Aug 17 20:15:05 2009: /bin/sh: /usr/bin/macchanger: not found
Mon Aug 17 20:15:05 2009: Failed to bring up eth0.
Mon Aug 17 20:15:05 2009: /bin/sh: pon: not found
Mon Aug 17 20:15:05 2009: Failed to bring up dsl-provider.
Mon Aug 17 20:15:05 2009: done.
Mon Aug 17 20:15:05 2009: Starting portmap daemon....
Mon Aug 17 20:15:05 2009: Starting NFS common utilities: statd.
Mon Aug 17 20:15:05 2009: /etc/rcS.d/S48console-screen.sh: 44: cut: not found
Mon Aug 17 20:15:05 2009: [: 44: =: unexpected operator
Mon Aug 17 20:15:05 2009: Setting console screen modes and fonts.
Mon Aug 17 20:15:05 2009: Setting up console font and keymap...setupcon: Warning: the font Lat15-Fixed16.psf.gz does not exist!
Mon Aug 17 20:15:06 2009: done.
Mon Aug 17 20:15:06 2009: /etc/rcS.d/S55urandom: 63: find: not found
Mon Aug 17 20:15:06 2009: [: 63: Illegal number: 
Mon Aug 17 20:15:06 2009: /etc/rcS.d/S70screen-cleanup: 42: find: not found
Mon Aug 17 20:15:06 2009: /etc/rcS.d/S70screen-cleanup: 42: xargs: not found
Mon Aug 17 20:15:06 2009: INIT: Entering runlevel: 2
Mon Aug 17 20:15:06 2009: /etc/rc2.d/S20kerneloops: line 29: basename: command not found
Mon Aug 17 20:15:06 2009: Starting :/sbin/start-stop-daemon: stat /usr/sbin/kerneloops: No such file or directory (No such file or directory)
Mon Aug 17 20:15:06 2009: 
Mon Aug 17 20:15:06 2009: Starting NFS common utilities: statd.
Mon Aug 17 20:15:06 2009: /etc/rc2.d/S70bootlogs: 62: savelog: not found
Mon Aug 17 20:15:06 2009: