I just hit the same problem described by fogman while trying to prepare a figure with inkscape 0.47pre3 for some latex paper using psfrag. The reason for using psfrag is a kind of "coding style", because I use a lot of complex symbols/equations defined by \newcommand statements in the latex document. For a consistent layout, I'd highly prefer to reuse these commands via psfrag in the figures.
Although I learned from the comments above that this issue is more related to cairo, my question would be if there is some news for inkscape users. For my colleagues and me, inkscape is currently *the* tool of choice, however, for stability reasons, we'd like to upgrade to the new release. For me, it's currently possible to have both inkscape 0.46 (for eps export) and 0.47 (for editing) installed. However, I fear, that other people relying on binary packages or complete linux distributions might experience some problems using the new release.
Is there any related bug or feature request reported for cairo? Any way to steer cairo's behavior by the inkscape GUI?
Anyway, thanks a lot to the inkscape team for the nice new 0.47!