Using the following command to create a Snowball emmc image fails with current (updated on 18th of August) l-m-c:
linaro-media-create --image_file customSnowballImage.img --dev snowball_emmc --rootfs ext3 --hwpack hwpack_linaro-lt-snowball_20110818-0_armel_supported.tar.gz --binary nano-n-tar-20110818-1.tar.gz
The bottom of the trace is:
File "/work/snowball/linaro/leb/linaro-image-tools/linaro_image_tools/media_create/boards.py", line 835, in get_file_info
size = os.path.getsize(filename)
File "/usr/lib/python2.6/genericpath.py", line 49, in getsize
return os.stat(filename).st_size
OSError: [Errno 2] No such file or directory: '/tmp/tmpmr5VH2/binary/boot/u-boot.bin'
which would suggest that the u-boot.bin from the u-boot package is not installed correctly. And indeed, looking at the u-boot package it installs u-boot.bin to /usr/lib/u-boot/u8500_snowball and doesn't contain eg. linking to /boot, where the startupfiles package installs its binaries and the configuration that refers to u-boot.bin (and which l-m-c reads when creating the emmc image).
So it seems that either startupfiles should have a startfiles.cfg that points to the correct u-boot location or the u-boot package should install (or link) the u-boot.bin to /boot.
I poked around a bit with the hwpack contents and found this patch will allow you to complete the build.
It's brute force and I'm sure there's a better way to do it, but at least it allowed me to finish the image creation.