overlayfs alters /proc/self/exe link(s), making result a dead link.

I've had this issue with other Ubuntu kernels.

Problem A:
This is not so much a bug in PulseAudio, but it is effected by this bug.
arcadia:~# invoke-rc.d pulseaudio start * Starting system PulseAudio Daemon W: [pulseaudio] main.c: /proc/self/exe does not point to /usr/bin/pulseaudio, cannot self execute. Are you playing games?
invoke-rc.d: initscript pulseaudio, action "start" failed.

Details:
Looking at other process, like ntpd, it's clear something outside of PA is not functional.

arcadia:~# ps $(pgrep ntpd)
  PID TTY STAT TIME COMMAND
 4595 ? Ss 0:00 /usr/sbin/ntpd -p /var/run/ntpd.pid -g -u 105:108
arcadia:~# ls -l /proc/4595/exe
lrwxrwxrwx 1 root root 0 May 31 13:53 /proc/4595/exe -> /sbin/ntpd <--- wow, that's wrong!
arcadia:~# ls /sbin/ntpd /usr/sbin/ntpd
ls: cannot access /sbin/ntpd: No such file or directory
/usr/sbin/ntpd

System settings:
arcadia:~# grep usr /etc/fstab
/dev/mapper/fsUsr.ro /.usr-ro squashfs defaults,ro 0 1
/dev/mapper/fsUsr.rw /.usr-rw ext4 defaults,discard,errors=remount-ro 0 1
none /usr overlayfs defaults,lowerdir=/.usr-ro/local/..,upperdir=/.usr-rw/lost+found/.. 0 2
UUID=e7f6ec6c-631d-11e1-9522-9b80600299c1 /usr/local ext4 defaults,discard 0 2

I guess the contents of /.usr-rw and /.usr-ro may matter.
arcadia:~# ls -l /.usr-r?/*bin/{ntpd,pulseaudio}
-rw-r--r-- 1 root root 79260 Mar 8 21:36 /.usr-ro/bin/pulseaudio
-rwxr-xr-x 1 root root 601028 Mar 6 09:03 /.usr-ro/sbin/ntpd
-rwxr-xr-x 1 root root 79260 Apr 12 00:23 /.usr-rw/bin/pulseaudio

...I attempted to 'disable' PA by removing it's execute bits. I'm now more fully making use of PA and life is better now.

ProblemType: Bug
DistroRelease: Ubuntu 12.04
Package: linux-image-3.2.0-23-lowlatency-pae 3.2.0-23.31
ProcVersionSignature: Ubuntu 3.2.0-23.31-lowlatency-pae 3.2.14
Uname: Linux 3.2.0-23-lowlatency-pae i686
ApportVersion: 2.0.1-0ubuntu5
Architecture: i386
Date: Thu May 31 14:14:18 2012
SourcePackage: linux-lowlatency
UpgradeStatus: Upgraded to precise on 2012-01-03 (149 days ago)
---
AlsaVersion: Advanced Linux Sound Architecture Driver Version 1.0.24.
AplayDevices:
 Error: command ['aplay', '-l'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
 **** List of PLAYBACK Hardware Devices ****
ApportVersion: 2.0.1-0ubuntu5
Architecture: i386
ArecordDevices:
 Error: command ['arecord', '-l'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
 **** List of CAPTURE Hardware Devices ****
AudioDevicesInUse: Error: command ['fuser', '-v', '/dev/snd/by-path', '/dev/snd/controlC1', '/dev/snd/hwC1D0', '/dev/snd/pcmC1D3p', '/dev/snd/controlC0', '/dev/snd/hwC0D0', '/dev/snd/pcmC0D0c', '/dev/snd/pcmC0D0p', '/dev/snd/pcmC0D1p', '/dev/snd/pcmC0D2p', '/dev/snd/seq', '/dev/snd/timer'] failed with exit code 1:
CRDA: Error: [Errno 2] No such file or directory
Card0.Amixer.info:
 Error: command ['amixer', '-c', '0', 'info'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
Card0.Amixer.values:
 Error: command ['amixer', '-c', '0'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
Card1.Amixer.info:
 Error: command ['amixer', '-c', '1', 'info'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
Card1.Amixer.values:
 Error: command ['amixer', '-c', '1'] failed with exit code -6: ALSA lib conf.c:1690:(snd_config_load1) :67:1:Unexpected }
 ALSA lib conf.c:3406:(config_file_open) /etc/asound.conf may be old or corrupted: consider to remove or fix it
DistroRelease: Ubuntu 12.04
IwConfig: Error: [Errno 2] No such file or directory
MachineType: System manufacturer System Product Name
Package: linux (not installed)
ProcFB: 0 radeondrmfb
ProcKernelCmdLine: BOOT_IMAGE=/vmlinuz-3.2.0-23-lowlatency-pae root=/dev/mapper/fsRoot ro rootfstype=ext4 crashkernel=384M-2G:64M,2G-:128M elevator=deadline
ProcVersionSignature: Ubuntu 3.2.0-23.31-lowlatency-pae 3.2.14
PulseList: Error: command ['pacmd', 'list'] failed with exit code 1: No PulseAudio daemon running, or not running as session daemon.
RelatedPackageVersions:
 linux-restricted-modules-3.2.0-23-lowlatency-pae N/A
 linux-backports-modules-3.2.0-23-lowlatency-pae N/A
 linux-firmware 1.80
RfKill: Error: [Errno 2] No such file or directory
SourcePackage: linux
StagingDrivers: zram
Tags: precise staging precise staging
UdevDb: Error: [Errno 2] No such file or directory
Uname: Linux 3.2.0-23-lowlatency-pae i686
UpgradeStatus: Upgraded to precise on 2012-01-03 (149 days ago)
UserGroups: adm admin audio cdrom dialout dip disk floppy fuse games kvm libvirtd plugdev pulse-access video
WpaSupplicantLog:

dmi.bios.date: 02/17/2011
dmi.bios.vendor: American Megatrends Inc.
dmi.bios.version: 1902
dmi.board.asset.tag: To Be Filled By O.E.M.
dmi.board.name: Crosshair IV Formula
dmi.board.vendor: ASUSTeK Computer INC.
dmi.board.version: Rev 1.xx
dmi.chassis.asset.tag: Asset-1234567890
dmi.chassis.type: 3
dmi.chassis.vendor: Chassis Manufacture
dmi.chassis.version: Chassis Version
dmi.modalias: dmi:bvnAmericanMegatrendsInc.:bvr1902:bd02/17/2011:svnSystemmanufacturer:pnSystemProductName:pvrSystemVersion:rvnASUSTeKComputerINC.:rnCrosshairIVFormula:rvrRev1.xx:cvnChassisManufacture:ct3:cvrChassisVersion:
dmi.product.name: System Product Name
dmi.product.version: System Version
dmi.sys.vendor: System manufacturer
---
AlsaVersion: Advanced Linux Sound Architecture Driver Version 1.0.24.
ApportVersion: 2.0.1-0ubuntu5
Architecture: i386
ArecordDevices:
 **** List of CAPTURE Hardware Devices ****
 card 0: SB [HDA ATI SB], device 0: VT2020 Analog [VT2020 Analog]
   Subdevices: 2/2
   Subdevice #0: subdevice #0
   Subdevice #1: subdevice #1
AudioDevicesInUse: Error: command ['fuser', '-v', '/dev/snd/by-path', '/dev/snd/controlC1', '/dev/snd/hwC1D0', '/dev/snd/pcmC1D3p', '/dev/snd/controlC0', '/dev/snd/hwC0D0', '/dev/snd/pcmC0D0c', '/dev/snd/pcmC0D0p', '/dev/snd/pcmC0D1p', '/dev/snd/pcmC0D2p', '/dev/snd/seq', '/dev/snd/timer'] failed with exit code 1:
CRDA: Error: [Errno 2] No such file or directory
Card0.Amixer.info:
 Card hw:0 'SB'/'HDA ATI SB at 0xfe3f8000 irq 16'
   Mixer name : 'VIA VT2020'
   Components : 'HDA:11060441,104383e4,00100100'
   Controls : 45
   Simple ctrls : 23
Card1.Amixer.info:
 Card hw:1 'HDMI'/'HDA ATI HDMI at 0xfe9ec000 irq 88'
   Mixer name : 'ATI R6xx HDMI'
   Components : 'HDA:1002aa01,00aa0100,00100000'
   Controls : 6
   Simple ctrls : 1
Card1.Amixer.values:
 Simple mixer control 'IEC958',0
   Capabilities: pswitch pswitch-joined penum
   Playback channels: Mono
   Mono: Playback [on]
DistroRelease: Ubuntu 12.04
IwConfig: Error: [Errno 2] No such file or directory
MachineType: System manufacturer System Product Name
Package: linux (not installed)
ProcFB: 0 radeondrmfb
ProcKernelCmdLine: BOOT_IMAGE=/vmlinuz-3.2.0-23-lowlatency-pae root=/dev/mapper/fsRoot ro rootfstype=ext4 crashkernel=384M-2G:64M,2G-:128M elevator=deadline
ProcVersionSignature: Ubuntu 3.2.0-23.31-lowlatency-pae 3.2.14
PulseList: Error: command ['pacmd', 'list'] failed with exit code 1: No PulseAudio daemon running, or not running as session daemon.
RelatedPackageVersions:
 linux-restricted-modules-3.2.0-23-lowlatency-pae N/A
 linux-backports-modules-3.2.0-23-lowlatency-pae N/A
 linux-firmware 1.80
RfKill: Error: [Errno 2] No such file or directory
SourcePackage: linux
StagingDrivers: zram
Tags: precise staging precise staging
UdevDb: Error: [Errno 2] No such file or directory
Uname: Linux 3.2.0-23-lowlatency-pae i686
UpgradeStatus: Upgraded to precise on 2012-01-03 (149 days ago)
UserGroups: adm admin audio cdrom dialout dip disk floppy fuse games kvm libvirtd plugdev pulse-access video
WpaSupplicantLog:

dmi.bios.date: 02/17/2011
dmi.bios.vendor: American Megatrends Inc.
dmi.bios.version: 1902
dmi.board.asset.tag: To Be Filled By O.E.M.
dmi.board.name: Crosshair IV Formula
dmi.board.vendor: ASUSTeK Computer INC.
dmi.board.version: Rev 1.xx
dmi.chassis.asset.tag: Asset-1234567890
dmi.chassis.type: 3
dmi.chassis.vendor: Chassis Manufacture
dmi.chassis.version: Chassis Version
dmi.modalias: dmi:bvnAmericanMegatrendsInc.:bvr1902:bd02/17/2011:svnSystemmanufacturer:pnSystemProductName:pvrSystemVersion:rvnASUSTeKComputerINC.:rnCrosshairIVFormula:rvrRev1.xx:cvnChassisManufacture:ct3:cvrChassisVersion:
dmi.product.name: System Product Name
dmi.product.version: System Version
dmi.sys.vendor: System manufacturer