netboot install to hard drive / init error 2

[scar <scar%drigon.com@localhost>]

I'm trying to install NetBSD-7.0.1-amd64 to our Sun Fire X4540.  I want 
to install it to a local hard disk.  I think there is a power problem 
with the USB ports, so installing using a USB flash drive or USB CD-ROM 
has failed.  However, i've got netboot working.  I've followed the 
guides here:

http://www.netbsd.org/docs/network/netboot/
https://www.netbsd.org/docs/network/netboot/local.install.html

At first, i put pxeboot_ia32.bin (from the 
iso:/amd64/installation/misc/pxeboot_ia32.bin) into /tftpboot/ and 
extracted netbsd (from the iso:/netbsd) into /export/client/root/ 
Apparently, according to the first document, that's all that's needed to 
boot the installation and get the OS installed.

The installation seems to boot, hardware is detected, but then i get the 
following errors: http://i.imgur.com/XibOTMd.jpg
(exec /sbin/init: error 2)

I tried following more of the local.install guide and created swap, etc, 
and extracted some of the binary sets, but i still get the same init errors.

Please help me to get the installation going so i can get this machine 
into production!
Thanks