Switching from run level 5 to 3 hangs

[Matt]

Today I tried to switch to run level 3 via `/sbin/init 3` but it never
completed. It got so far as loading anacron and then hanged. syslogd
reported no error messages; the last entry states that anacron started
successfully. There is a Bugzilla report filed as ID 112015 but there's
been no response as yet. 
Has anyone found a workaround or temporary fix?

TY
-- 
Matt