It should be working now (sort of)... for some reason the maximum number of file descriptors was set to 100 (the IRCD refused to start when it detected this condition). 100 is far too low a limit in any case.
I'm not sure why it changed all of a sudden, maybe an update did this completely stupid change.
Later this week when I have more time (and my own internet connection) I'll try to figure out what the deal was.