After hours of panic, completely removed every trace of asterisk v1-2-0 from the server and rebuilt asterisk v1-2-0rc2.
After a quick 3 minute compile on the belly of the beast that is gentoo…I had a fully functioning and stable v1-2-0rc2.
So possibly I did something wrong with my v1-2-0 build but its something ever so small that must have caused the problem. I did not have time to find out.
I’ve had a similar experience when upgrading from 1-0 to 1-2. I ended up cleaning everything in /usr/lib/asterisk /usr/include/asterisk and /usr/src/asterisk.
I went for the recent RC2, and after a fresh “make install” Asterisk would start running like it should.