I found the following thread but I don't think mine is the same problem:
http://lists.fedoraproject.org/pipermail/test/2011-June/100861.html
I am, however, running BTRFS on main main partitions on top of LVM (since anaconda as of F15 still creates an LVM setup regardless of filesystem?)
This is the only thing I can think of that's causing the problem.
$ systemd-analyze blame | head 47003ms fedora-storage-init.service 30284ms boot.mount 8829ms udev-settle.service 3692ms cups.service 1686ms systemd-vconsole-setup.service 1567ms udev.service 1510ms autofs.service 1403ms fedora-readonly.service 1311ms lvm2-monitor.service 1295ms NetworkManager.service
boot.mount I assume just remounts the boot partition as read-write, so I think it's just waiting on fedora-storage-init.service.
Any ideas?
Thanks, Richard